The investment and private bank is looking to shore up its market position ahead of the country opening its banking sector to foreign competition next year.
CIMB previously worked with a variety of agencies on an ad hoc basis.
Burnett had the advantage of being the rostered agency for retail bank Bumiputra, said Sue D'Cruz, director of Leo Burnett PR. CIMB and Bumiputra are both part of Commerce Asset Holding group. "The fact we have a banking client helped us a lot (because) we understand the market landscape, D'Cruz said.
Burnett conducted workshops in May to help formulate a new brand positioning for CIMB ahead of it executing an integrated marketing campaign in September.
The key components of the campaign will include advertising, direct marketing and public relations. "This will be CIMB's first comprehensive push into the market, said D'Cruz.
She said CIMB recognised that to succeed in the more competitive market it would need to communicate in a more public way. "Direct marketing (aimed at wealthy individuals) will continue to play a part but it is also necessary to use mass mediums because CIMB needs to position itself as "a player in the market", according to D'Cruz.
A number of global banking players will be launching operations in Malaysia next year either in partnership with local banks or on their own steam.
The move towards bank deregulation has come about partly because of the ASEAN Free Trade Area agreement.
