• by Steve McClellan  @mp_mcclellan, February 5, 2014

MasterCard has selected Carat to handle most of its global media buying and planning business after a formal review that began in November, the company confirmed today.

Interpublic’s UM had been the incumbent, winning a consolidated review for the assignment back in 2010. UM retained Latin America.

The company’s estimated global spending is more than $200 million. It spent $126.6 million on U.S. measured media in 2012, according to Kantar. For the first nine months of 2013 the company spent nearly $85 million in the U.S., according to the company’s ad-tracking unit.

The other finalist was PHD. Other contenders included MediaVest and GroupM. The review was called shortly after the arrival of a new Chief Marketing officer at the firm -- Raja Rajamannar -- who joined the financial company last August. 

A MasterCard rep confirmed the decision and issued this statement: "MasterCard regularly reviews and assesses industry resources as part of responsible vendor and agency management. At this time we can confirm that Carat has been awarded the consolidated media business in all markets except Latin America. Universal McCann will retain the business in Latin America."

Creative duties were not part of the review. The MasterCard statement also noted that "The integrated McCann XBC team will continue to support MasterCard in other marketing activities, including creative, digital and sponsorships/partnerships." 

The agencies declined comment or could not be immediately reached.

This story has been updated to include confirmation and a statement from MasterCard.

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