Paine Webber Account in Play

Longtime Saatchi & Saatchi client PaineWebber is the unidentified “financial services” company seeking a new ad agency through the Advertising Agency Register, sources said last week.
Recently, AAR requested proposals from more than a dozen agencies. The rfps said the account was worth $15-20 million.
AAR declined comment. Sources said PaineWebber needs a shop to take on creative and media chores for its corporate identity account and would narrow the field to 12 this week. Two more cuts will be made before the company picks an agency in late June.
Client representatives did not return calls. Tony Dalton, vice chairman of Saatchi & Saatchi in New York, said he was unaware of a review. In fact, he said his agency is developing a new campaign for PaineWebber and plans to discuss it with the client this week.
“I would be surprised if it were in play,” Dalton said last Friday, “and I would wait and see what the client had to say” before deciding whether to defend. Saatchi & Saatchi has handled the account for more than 10 years.
PaineWebber spent nearly $8 million on ads last year and almost $19 million in 1996, according to Competitive Media Reporting.
Saatchi’s last campaign, which broke in 1996, featured the tagline, “Invest with more intelligence.” One spot showed a man in his 50s on a sailboat and reflected on how he had planned for his financial future. “How’s he doing it?” a male voiceover asks. “More research, insight, understanding.”
Sources said Saatchi & Saatchi was unable to sell through a new campaign last year. But Dalton, who oversees the account, said the shop is now working on a new TV and print campaign with the client’s help.
Saatchi & Saatchi cited PaineWebber and the potential for conflicts when it pulled out of Chase Manhattan’s $50 million review last month. That contest is down to four New York shops, with a decision expected in April.