Wolf Wins CIT Account

Wolf Group has picked up creative and media duties for commercial and residential lender CIT Group, the agency said.

The New York shop won the estimated $7-10 million business fol low ing a three-month review. Sources said it defeated Inter pub lic Group’s McCann-Erickson, Publicis Groupe’s The Kap lan Thaler Group, Havas’ Arnold McGrath and the incumbent, IPG’s DraftWorldwide, all New York.

“CIT is in a unique position where it is an old company that was restarted from its IPO,” said Ned Russell, the agency’s chief oper ating officer. “It is a great financial brand, but it probably doesn’t carry the equity of a great financial brand today. What they want us to do is raise their brand perception up to the same level as the actual performance of the company.”

Russell said Wolf’s previous work for financial clients, including HSBC and Wall Street Access, played a role in the win.

Print and TV ads will be targeted at businesses and are expected to break this quarter.

Prior TV spots by Draft World wide featured an ani mated line morphing into objects such as a roller coaster, and carried the tag line, “Today’s financial leader.”

The client could not be reached.

Livingston, N.J.-based CIT went public in July; before that, it was owned by Tyco International for 13 months.

This is Wolf Group’s eighth win since the beginning of the year. Other new business includes Equal, The Wiz, Mott’s, Arch Chemicals and New School University, with combined billings totaling nearly $70 million, according to CMR. The shop claimed $300 million in billings last year.