Schwab Consolidates at Omnicom’s PHD

NEW YORK Charles Schwab has consolidated media chores on its $100 million ad account at PHD, the client has confirmed.

The Omnicom Group shop’s San Francisco office beat out Havas’ Media Planning Group in New York and independent RPA in Santa Monica, Calif., for the business.

PHD had held media planning and print buying, while RPA handled the client’s TV buying chores. With today’s decision, the entire Schwab media account is consolidated at PHD.

The client spent about $50 million on TV ads last year, per Nielsen Monitor-Plus.

Late last year, Schwab, the San Francisco-based discount brokerage, moved its creative duties to Havas’ Euro RSCG from Omnicom’s GSD&M in a separate review [Adweek Online, Dec. 1].

“We see a clear opportunity to consolidate our planning and buying to integrate more strategically and effectively across Schwab’s businesses and with our creative agencies,” said Becky Saeger, Schwab’s chief marketing officer, in a statement. “Consolidation of these responsibilities will allow us to encourage innovation in the continually changing media landscape, streamline operations and operate most flexibly and efficiently.”

The client’s decision “will enable us to impact Schwab’s business growth through complete strategic integration of online and offline communications,” said Steve Grubbs, CEO of PHD North America.

Select Resources International in Santa Monica managed the review.