JPMorgan Chase consolidates $400 million global media account with WPP and Dentsu
Creative powerhouses, WPP and Dentsu, have won the media businesses of American multinational investment banking conglomerate, JPMorgan Chase, in a highly competitive pitch.
The pitch which kicked off in late September 2020, covers the monetary companies’ offline media shopping for enterprise within the US, Northern Europe and Asia, and was supported by MediaHyperlink. It would be recalled that Zenith, the US incumbent, lost the account after holding it since 2005. The account movement comes after 5 months of a management shake-up in JPMorgan Chase’s advertising division.
JPMorgan Chase splits its media shopping for finances, managing its $200 million digital media account in home, and outsourcing the $218 million offline portion to businesses. Reliable sources noted that the pitch was about consolidation, however that there have been as much as 9 agencies that took part in the pitch of the highly sought-after account.
WPP will create a crew of GroupM media businesses known as Team JPMC powered by WPP to deal with the account, which incorporates all offline and digital planning, media shopping for, analytics, measurement and search engine optimization.
JPMorgan Chase has been in-housing components of its advertising enterprise since 2015, when it launched an inside company known as Inner Circle below CMO Kristin Lemkau. In January, Leslie Gillin changed Lemkau as CMO, who grew to become CEO of the corporate’s wealth administration division.
Impeccable sources noted that WPP and Dentsu have been notified of the win earlier than the holiday period.
Zenith, MediaHyperlink and WPP declined to remark. Dentsu didn’t reply to requests for remark in time for publication.
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