While we’ve yet to receive official word from agency PR, sources within the Ogilvy camp confirmed this morning that the agency has lost the TV portion of the E*Trade account to R/GA. No review was announced.
For context, Ogilvy won the business in July 2013, as evidenced by an internal memo from COO Lou Aversano; incumbent Grey New York, or the party responsible for the brand’s once-ubiquitous baby, resigned the account earlier that year.
In early 2014, the client signed a new CEO and dropped the baby for a new approach, with its CMO telling Fast Company that “the baby ate the brand.” Ogilvy’s following “Type-E” campaign starred Kevin Spacey and others.
A recent AdAge profile piece noted that R/GA, which has worked on E*Trade digital for some time, planned “a new emphasis on TV work” for 2015; this win marks a major step in that direction.
Sources say that, while Ogilvy may retain parts of the E*Trade business, R/GA will be behind all upcoming TV campaigns.
UPDATE: R/GA has no official comment on the news.
Sources also confirm that CMO Liza Landsmen, the very executive who discussed E*Trade’s new creative direction with Fast Company last year, has decided to leave the company.