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One word describes why two big banks changed agencies last week: relationships.
Fleet Boston Corp.–the holding company resulting from Fleet Financial Group’s buyout of BankBoston–confirmed it has moved its corporate ad account, worth at least $40 million, from Arnold Communications to Hill, Holliday, Connors, Cosmopulos.
Arnold executives saw the beginning of the end last April when Hill, Holliday was awarded a research project aimed at developing the merged entity’s corporate identity. Then in May, when it was announced that Fleet marketing executive Anne Finucane, a former Hill, Holliday employee, would report to president and chief operating officer Chad Gifford, Arnold sources said they knew their days were numbered.
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