Wells Fargo has launched a media consolidation review between its two incumbents: Omnicom’s OMD and Interpublic Group’s UM.
The banking giant has reported spending $610 million on advertising and promotion in 2013, up from $578 million in 2012. U.S. measured media expenditures for the company in 2013 totaled about $171 million, according to Kantar.
A rep for the bank confirmed the ongoing review. "We are conducting a media agency review and anticipate a decision in late April," she wrote in an email, responding to a query.
"As media channels continue to converge and the lines between digital and offline blur, we’ve decided to undergo a media consolidation initiative to increase the integration and effectiveness of our channel plans to ensure channels are connected when appropriate and work together to reflect consumer behavior," the rep added.
UM was awarded digital media duties by the client after a 2009 review that included OMD, which handles traditional media chores for Wells Fargo.
The latest media review follows a creative review that was conducted last year. BBDO won that contest, succeeding sibling shop DDB, which had handled that account for nearly two decades.
This story has been updated to include Wells Fargo 2013 ad spending data from Kantar.