• Advertising Age, Friday, April 3, 2009 9:30 AM

Charles Schwab, one of the only financial-services companies not to take any federal bailout money, has put its $100 million media planning and buying account up for review. The business includes both traditional and digital media.

Omnicom's PHD has accepted the invitation to defend the account. Contenders include Universal McCann and Aegis' Carat. Charles Schwab consolidated media buying and planning under PHD in 2005.

Mike Naughton, Schwab's vice president of media, says that changes in the media landscape since 2005 are one reason for the review. "Media is rapidly evolving and new technologies have created a lot of opportunities for marketers that honestly didn't exist before," he says, "Media defines how consumers live, and this is a great opportunity to ensure we're aligning ourselves with the best thinking out there." The other reason, Naughton says, is that the company has a responsibility to review its agency resources on a regular basis. He also gave a nod toward PHD's "significant" role in the success of the "Talk to Chuck" campaign.

Read the whole story at Advertising Age »