Wells Fargo has selected Omnicom’s BBDO Worldwide as its brand agency of record, effective April 1, the client confirmed Wednesday.
Led by its San Francisco office, BBDO will build the Wells Fargo brand image through advertising and marketing programs.
“BBDO demonstrated exceptional creativity and big ideas, which made a compelling case for moving forward and officially establishing this new relationship,” said Jamie Moldafsky, chief marketing officer, Wells Fargo. “As our new brand agency of record, we’re confident that BBDO will bring world-class strategic expertise to tell the Wells Fargo story and communicate the value of our products and services to the consumer.”
The incumbent agency was BBDO sibling DDB. MRM will continue to lead digital creative. OMD and UM will continue to serve as media agencies, and the company’s specialist agency roster will remain unchanged.
Still, BBDO's account win comes as Wells Fargo adjusts to the ever-evolving and expanding marketing landscape. It remains a key challenge for the bank to coordinate all of its various financial divisions and marketing channels.
For instance, should the residential mortgage department run its own Twitter and Facebook account? Or should this outreach be concentrated in one Wells Fargo brand?
After Modafsky assumed the CMO position in 2011, she merged departments, introduced new social media channels, and established the "co-create" initiative that brings together all agencies and encourages them to work together, regardless of who comes up with what concept.
Now, BBDO will work with the other agencies to introduce new creative that conveys how Wells Fargo is one of the world's most respected and valuable brands.
Wells Fargo oversees 9,000 retail locations in 50 states and has more than 12,000 ATMs. The company says there is a Wells Fargo retail store or ATM within two miles of nearly half of the U.S. population and small businesses.