HONG KONG: OMD has beaten off Maximize and Zenith to win the
consolidated US$20 million Standard Chartered Hong Kong media
buying account.
The appointment comes just months after the bank, which also runs a
credit card operation under the Manhattan brand, realigned its global
creative assignment with J.Walter Thompson, which left FCB and Leo
Burnett out in the cold.
Because of the realignment with JWT, fellow WPP agency Maximize had been
expected to win the buying agency or record account.
But OMD, part of the Omnicom network, is no stranger to the banking
group, having handled the Manhattan Cards business since it was set up
in Asia three-and-a-half years ago.
The planning side of the assignment remains unchanged, with OMD handling
Manhattan Cards, and Standard Chartered serviced by Maximize.
OMD Greater China managing director, Maggie Choi, discounted the
possibility of conflict with Maximize. "We will work closely with them
in the interest of furthering the client's business," she said.
The media buying account is only for Hong Kong, Standard Chartered's
biggest market, but Choi added: "We hope to develop the relationship to
include other markets in the region in future."
She said OMD won "through a demonstration of cost efficiency and a
commitment to the business and that included coming up with concrete
examples of the savings we could deliver".
FCB will continue to handle some media and creative work for the bank,
but only until the end of the month when its contract expires. This work
included the recent launch of the InvestPro television and print
campaign to promote Standard Chartered's consumer investment
division.
Standard Chartered began moves to reorganise both its creative and media
accounts earlier in the year, with the aim of consolidating resources to
improve overall cost-efficiencies amid the global economic slump.
