Bank Of America Shifts Ad Duties
Bank of America has shifted brand advertising duties to a WPP team from Omnicom Group's BBDO, according to two executives familiar with the matter. The selection of WPP comes after a process that the bank, under its CMO Anne Finucane, began in January. WPP will now be responsible for the rollout of a new strategic positioning -- or what Bank of America was internally calling the development of a "North Star" that would signal to Wall Street and consumers that it's a new day at the bank, helping to repair the company's tarnished image.
The bank will likely ditch its "Bank of Opportunity" slogan, which was developed by BBDO. The tag was adopted a few years ago to replace the prior "Higher Standards" campaign. That kind of lost meaning during the recession, when the bank was accused of having the opposite.