Chase Goes into Review: As Predicted

Chase Goes into Review: As Predicted


Steve’s breakdown: It took a while but it happened. Chase goes into review after we predicted it would in January. (see below)

NEW YORK, NY: With a new chief marketing officer at the helm, JP Morgan Chase is putting its global media business into review, according to people close to the matter.

The people say the review, which was first reported by Campaign, is being run by consultancy MediaLink, which declined to comment.

Those people say Publicis Media’s Zenith is the incumbent agency on JP Morgan Chase’s offline U.S. planning and buying business.

A spokesperson for Zenith declined comment, but one person says the agency will compete in the review. If the agency wins, it will expand its partnership with the client by picking up the entire global scope of the business.

It’s unclear what other agencies are participating. The person close to the matter says JP Morgan Chase currently handles all digital media duties in-house and works with various different agencies on its global account so it seems the company is seeking to consolidate the entirety of its business with one partner.

Zenith first won JP Morgan Chase’s media account in 2005 and successfully defended it in a 2011 review.

 Last year, Chase spent $287.8 million on measured media in the U.S., an 18 percent increase over 2018, according to Ad Age’s Datacenter.

 Early this year, Chase promoted Leslie Gillin to the CMO role for the Chase, JP Morgan and corporate brands, replacing longtime brand veteran Kristin Lemkau, who now leads wealth management.

Source:

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