Messner Vetere Berger McNamee Schmetterer/Euro RSCG here has been selected by J.P. Morgan to handle an estimated $15 million corporate image account. The two parties are in the midst of contractual negotiations, sources said.
Sources said MVBMS bested four New York shops for the assignment: Hampel/Stefanides, J. Walter Thompson, Citigate Albert Frank and the incumbent, The Colligan Group. Colligan picked up the account last year. CAF handles product advertising for J.P. Morgan. Both the client and MVBMS declined comment.
MVBMS takes the reins as J.P. Morgan is trying to rebound from significant losses suffered as a result of the Asian financial crisis, particularly in South Korea. The company recently announced plans to lay off 700 employees worldwide. --Hank Kim