Steve’s breakdown: I have never seen such a press storm about an account review in Australia in my life. Do you think it’s because the client hired an American agency last time? (He says with a snicker)

SYDNEY, Australia: The Commonwealth Bank is to review its advertising agency arrangements in one of the biggest moves since the arrival of new chief marketing officer Andy Lark.

When CommBank – whose marketing was at that stage led by Mark Buckman, appointed the San Fransico-based Goodby Silverstein, it was one of the most controversial appointments of the year.

BMF also works on CommBank, including its DM work.

Lark said that the bank is “chatting to a number of Australian agencies about our main agency relationship”.

He added: “The Goodby and BMF relationships have served us well over the past four years, delivering exceptional results. We are particularly proud of the recent Centenary campaign.”

Goody and BMF are among the agencies to particpate in the review, which does not extend to the bank’s digital and media arrangements.

Lark said: ” Four years into working together, coupled with significant market changes, make this the right-time for us to consider this.

“We continue to build significant momentum through its focus on customers, social and technology, something we intend this partnership to amplify. Since arriving in Australia three months ago I’ve been incredibly impressed by the creative talent and smarts here – and believe we can partner these with our global resources to achieve great things.”

The review began a month ago and is to conclude next month.

Source: