Following a competitive pitch, Westpac has named FCB Media as its new media agency partner, effective from 1 October, a move that sees the bank shifting from incumbent Starcom.
Last month, Westpac external communications manager Chris Mirams confirmed the bank’s media business was currently under review, but would not say anything further.
At the time, a source revealed to StopPress that OMD, FCB Media and MEC were shortlisted for the account.
The pitch does not include the creative account, which will remain in the hands of DDB.
FCB Media head of media client service Simon Teagle says there was good chemistry between the agency and the bank from early on in the pitch process.
“It was a well orchestrated and rigorous process that allowed us to demonstrate our strategic thinking coupled with our digital and data smarts. We really enjoyed working with the team and we’re pretty excited about being appointed and being able to work in partnership with an organisation that is data driven and as digitally ambitious as we are.”
Westpac says it was FCB Media’s strategic offering, centred around consumer insights and the clear team chemistry that identified them as a strong contender from early on.
“We were looking for a partner that could combine brilliant strategy with market leading digital analytics and data tools to provide us with a competitive advantage. The FCB Media team and offering really stood out so we’re looking forward to what this partnership will mean for our business moving forward,” says Westpac head of customer experience, brand and marketing Oliver Lynch.
Among the big banks, Westpac was the second biggest advertiser for the year ending 30 June 2016, spending almost $12 million according to Nielsen's AIS data (this was well behind ANZ's $29,100).
Westpac's latest ad spend figures were slightly below those recorded for the 2015 financial year, but well up on the amount spent in 2014.