JPMorgan Chase has launched a review of its global media buying and planning account, sources with knowledge of the process confirmed to Adweek.
The review is being led by MediaLink; the U.S. incumbent, Publicis Groupe media agency Zenith, will be defending, according to these sources. JPMorgan Chase, MediaLink and Zenith all declined to comment.
JPMorgan Chase works with a variety of media agencies outside the U.S. and the review is being positioned as a consolidation move, according to a source with knowledge of the process. Multiple holding companies have been invited to participate in the review, according to a source with knowledge of the process.
JPMorgan Chase spends about $400 million on media, according to data consultancy COMvergence. The company handles digital media buying and planning internally, however, and the review is limited to offline media, according to sources with knowledge of the review.
This appears to be the first big agency move for JPMorgan Chase in several years. Leanne Fremar joined JPMorgan Chase as its chief brand officer back in 2018. In 2016, JPMorgan Chase consolidated U.S. creative duties with Droga5.
The review comes on the heels of several other prominent clients examining media agency relationships. Earlier this week, T-Mobile launched a review of its $1.6 billion media account, and the month opened with the NBA launching a media review.