Citron Client Dreyfus Seeks A New Agency

The Dreyfus Corp. is talking with several consultants as a preliminary step toward a review of its estimated $30 million ad account. The business has been handled by Citron Haligman Bedecarre here.
“We are seeking a new agency,” said a representative for New York-based Dreyfus. “[Citron] has completed their assignments with us, and now is a natural time to find an agency located closer to home.”
Dreyfus executives initially told Citron they were seeking an agency to handle some “direct response projects” that Citron “willingly” declined to work on, said sources close to the agency. Citron executives were “totally unaware” that Dreyfus was taking steps toward putting its account “into play,” those sources added.
Executives with Citron declined to comment on the review, and Dreyfus did not indicate whether Citron would be invited to participate.
Citron has handled the Dreyfus business since 1995.
Industry sources had speculated for several months that Dreyfus was unhappy with its relationship with Citron, but both the client and agency had denied any problems.
“We have been very pleased with Citron’s work,” said a Dreyfus representative. However, sources said Dreyfus’ pursuit of a new agency could put the “longevity” of Citron’s new $30 million TV campaign for the client’s mutual funds into jeopardy.
The agency launched that campaign in East Coast markets in February. Featuring the tagline “Rule your kingdom” and the client’s symbol, a lion, the work is set to expand across the country throughout the year [Adweek, March 2]. Print and outdoor executions broke nationally.
The work is targeted directly at affluent baby boomers who reject the concept of retirement as an afterthought, embracing it instead as an opportunity for personal rediscovery. –with David Gianatasio and Hank Kim