Scudder Kemper Investments has retained Pile and Co. to review shops for an ad account industry sources last week estimated to be at least $15 million.
The review stems from the merger in December of Boston-based Scudder, Stevens & Clark and Swiss company The Zurich Group, which owns Zurich Kemper Investments. As part of that deal, Scudder and Zurich Kemper agreed to combine names and establish headquarters in New York, said William Haynes, vice president of public relations for Scudder Kemper.
Two agencies worked for Scudder, Stevens & Clark: Heater Advertising in Boston and Saatchi & Saatchi in Toronto, according to Skip Pile, president of Pile & Co. A third shop, Chicago-based Foote, Cone & Belding, worked for Zurich Kemper Investments, also in Chicago. These roster shops as well as outside agencies will be invited to pitch the account, Pile said.
"We're very satisfied with the relationships with our advertising agencies, but we are looking for a broader assignment," Haynes said.
Heater has created broadcast ads for Scudder, Stevens & Clark's mutual funds. Heater's brand-building work for Scudder included a series of commercials asking fund investors to "Build. Create. Provide."
The company also has promoted its funds with Heater-created spots that feature telephone conversations between company representatives and customers, with a tape recorder as the main visual element. Ads in the series have been running for the past two years. Media buying and placement has been handled by the client.
Scudder, Stevens & Clark spent about $10 million on advertising for the first nine months of 1997, while Kemper Financial Group spent about $2 million, according to Competitive Media Reporting.
Scudder Kemper maintains an office in Boston to market its no-load funds.
--with David Gianatasio