Wells Fargo is consolidating its media assignments with Omnicom Group agencies after a review that kicked off late last year. The official announcement is expected in a few weeks, with the new assignments effective June 1.
OMD will continue to serve as the lead agency for traditional media planning and buying, and now adds search and digital planning responsibilities, previously handled by Interpublic Group’s UM.
Multicultural planning and buying was also consolidated with OMD in a unique partnership with Buzz Marketing, the Haddonfield, NJ-based specialist that focuses on multicultural and millennial consumers, as well as moms.
Before this, the multicultural business was handled by a number of shops including Muse, DAE, and Acento.
Another Omnicom shop, Organic, has been selected for digital creative duties, previously handled by Interpublic's MRM.
Wells Fargo spent $177 million on advertising in 2014, according to Kantar Media.
Omnicom didn’t return a query seeking comment on the changes, and Buzz Marketing declined to comment. A client rep stated that "Wells Fargo began a media consolidation initiative in late 2014 to increase the integration and effectiveness of our channel plans. We are nearing the end of the review but do not have any details to disclose at this time."
The client’s media review follows its decision last year awarding creative AOR duties to BBDO, also part of Omnicom.