FCB loses Fonterra

New Zealand dairy giant Fonterra Brands has reportedly finalised its agency shortlist as part of its ongoing creative review, with sources disclosing that regional incumbent FCB is no longer involved in the process. <BR><BR> The news means a significant loss for FCB in Southeast Asia, where the Fonterra business accounted for a large portion of its Malaysian, Indonesian and Sri Lankan billings. A Fonterra spokesperson said: "This review is still in progress and it would be inappropriate for us to comment until it is complete." <BR><BR> The review covers the whole of Australasia and Asia, and the three remaining agencies are believed to include Y&R, Saatchi & Saatchi and BBDO.