JPMorgan Chase has hired longtime marketing executive Andrew Knott to serve as the company’s first-ever chief media officer.
In the new role, Knott, the former chief marketing officer of National Australia Bank, will be responsible for all of Chase’s paid, owned and earned media, said Kirstin Lemkau, Chase’s chief marketing officer. Knott will report into Lemkau.
“I’m excited about the opportunity to join Chase and to continue to transform how we approach media and how we deliver the right returns to the organization,” Knott said in a phone interview Monday.
Prior to his role at National Australia Bank, Knott held high-level marketing roles as the regional vice president of media and digital at McDonald’s and as the CMO and vice president of marketing at Salesforce. He also worked on the agency side as chief digital officer of Havas Worldwide, and he spent more than a decade at Ogilvy and OgilvyOne. In an interview, Lemkau said that Knott’s background — particularly his experience transforming National Australia Bank’s digital approach — stood out to her.
“We have our own direct-to-consumer distribution, which most brands don’t, with our website, our app, our branches,” Lemkau said, noting that banks outside of the U.S. have moved to digital-heavy models. “We need to reconfigure our tech stack to be able to optimize that distribution in a more powerful way, and I needed somebody who has done that before.”
Lemkau also said that the newly created role was a long time coming for Chase, one of the largest financial institutions in the world.
“If you think about all of the work that we’ve done on brand safety and transparency and audit and in-sourcing programmatic and search, it’s probably way overdue,” she said.
Knott’s hire comes as the financial institution has indicated that it will continue to build out its digital capabilities and evolve its media strategy as the media landscape continues to face disruption. To address industry-wide changes and try to control more of its dollars, Chase has opted to move a number of its marketing approaches in-house, including search and programmatic, as well as some of its approaches to brand safety. Last year, the company also dramatically scaled back the number of websites on which it advertises from 400,000 to 5,000, all of which were manually whitelisted and deemed to be brand-safe.
Lemkau said that she is interested in learning whether other approaches — including addressable — can be moved in-house. As part of his role as chief media officer, Knott will be tasked with evaluating whether or not moving more marketing and marketing tech in-house makes sense for the company. (At NAB, Knott noted, he moved the bank toward a hybrid model of in-house approaches and smart partnerships.)
“The core of how we’re going to reinvent ourselves is around data and analytics and media,” Lemkau said. “… We hired him because I know that he knows how to do that job.”