• by Fern Siegel , January 25, 2011

To facilitate growth, MediaBank has restructured the company into two key divisions: The Agency Systems will provide media management technology to media-buying businesses, while Marketplaces will develop open markets across all media channels.

MediaBank, founded in 2006, serves close to 200 media companies, including Publicis' Starcom MediaVest, as well as Interpublic Group's Mediabrands, which will go live with MediaBank technology later this year.

MediaBank's Agency Systems will be run by Nick Galassi, formerly CFO, who was named president of the division. John Bauschard, MediaBank COO, was named president, Marketplaces. Bauschard added that Marketplaces will bring the same innovation in the digital space to traditional media: print, OOH, TV, radio.

Bill Wise, MediaBank CEO, stated that the move -- part of the company's evolution into a multinational organization -- was intended "to give each of our offerings the fullest attention they need in order to flourish." MediaBank is currently battling with Donovan Data Systems for market share.

Last May, MediaBank launched Vendor Portal (V|P), an automated market for media buyers; to date some $200 million digital buys have been placed. At the same time, MediaBank released M|Buy, a platform which uses cross-channel DSP to connect local media buyers and sellers through targeted inventory. Both platforms are now part of Marketplaces. Bauschard had overseen the development of M|Buy and V|P.

MediaBank provides workflow systems, analytics platforms and agency financial tools.