Olson Snares Fifth Third Bancorp

BOSTON Independent Olson said it has been selected to handle advertising chores by Fifth Third Bancorp following a review.

The client ranks among the nation’s top 15 banks by overall assets. It spent nearly $20 million in domestic measured media in 2006 and more than $15 million on ads so far this year, per Nielsen Monitor-Plus.

Olson of Minneapolis succeeds the Sunrise Agency in Cincinnati on the business. Contenders in the review were not disclosed.

Larry Magnesen, svp, CMO at Fifth Third, lauded Olson’s “breadth of strategic and creative thinking,” as well as the shop’s ability to execute campaigns on the national and creative level.

Olson has been on a new-business run of late, adding significant work from Allen-Edmonds, a men’s shoe marketer, and Starkey Labs, a provider of hearing solutions. Other Olson clients include General Mills, Nike Bauer Hockey, Supervalu and Target Stores.

Fifth Third, headquartered in Cincinnati, has 18 affiliates with more than 1,200 full-service locations in 11 states.