Scudder Kemper Investments last week concluded its agency search by awarding its $15-20 million account to Gotham.
Although client representative Ed Canaday told Adweek that the assignment was for a national corporate branding campaign and that "existing relationships with our current agencies will remain in place at this time," sources close to the review believe those assignments will now be consolidated at Gotham.
The New York shop was chosen in a review conducted by Pile and Co. in Boston. The other finalists were Grey Advertising in New York, Impact Communications in Chicago and Saatchi & Saatchi in Toronto.
Before the merger of Scudder Stevens & Clark and Zurich Kemper Investments in January, Scudder employed two agencies: Boston-based Heater Advertising and Saatchi & Saatchi's Toronto office. Scudder Stevens & Clark spent $11.8 million last year on advertising, according to Competitive Media Reporting.
If Heater does lose its portion of the business to Gotham, the agency's roster will be reduced to only three clients. Heater executives did not return phone calls by press time.
The creative boutique has worked for Scudder for the past several years, launching the first brand-building campaign for the company's mutual funds. Heater-created TV spots are currently airing and feature taped conversations between company representatives and customers, with a tape recorder as the only visual element. Ads in the series have been running for the past two years.