• by Joe Mandese , May 27, 2005

Demonstrating that multiple media buying networks make good business sense for media agency holding companies, two Omnicom media shops - OMD and PHD - Thursday picked up a pair of competitive accounts in the financial services sector. Retail stock brokerage firm Charles Schwab Corp. has consolidated its media planning and buying at PHD USA, while Rival American Century Investments tapped sister media shop OMD New York.

PHD, which had already been handling Schwab's "offline" advertising, including print and out-of-home media buying since 1997, picked up broadcast buying from Rubin Postaer & Associates (RPA), and online media planning and buying from KP Media.

PHD won the consolidation after a review, which included incumbent RPA, as well as Havas' MPG unit.

Mike Naughton, vice president of media at Schwab said the financial services marketer valued the work done by RPA and KP Media, but said the consolidation was done in order to better integrate Schwab's "media with marketing strategy and execution."

OMD, meanwhile, picked up American Century Investments media planning and buying as part of a consolidation of that financial marketer's creative and interactive advertising account at sister Omnicom units: TBWA/Chiat/Day picked up creative duties; while TEQUILA/New York gained interactive media.