ANZ Bank’s former media agency, Ogilvy NZ, has opted out of pitching for BNZ’s newly opened media agency spot following a recent global ‘re-shuffle’.
Ogilvy, which currently holds Kiwibank’s creative account, was dropped by ANZ due to a structural realignment, with the bank now taking on SparkPHD to fill its shoes. SparkPHD previously held BNZ’s media account, but was recently presented an offer from ANZ after the bank dropped Ogilvy from their sights.
With a space now open for BNZ’s creative account, it would only be sensible for Ogilvy to take on the SparkPHD’s previous deal with the bank, creating a lucrative piece of business for the media company.
But all is not so clear cut, as Ogilvy’s commitment to holding Kiwibank’s current creative account seems to be steering the company away from doing just that.
NBR contacted Paul Manning, executive director of Ogilvy NZ Ltd, to clear the air on whether or not Kiwibank’s tight reigns on the company have in fact influenced their decision not to pitch for the bank.
“There’s not really any ulterior motive to not working with BNZ,” said Mr Manning.
“Its has more to do with maintaining a clearer and exclusive relationship with our client [Kiwibank].”
Ogilvy did however consider the offer at first, but after careful consideration were left with their decision to “remain loyal” to Kiwibank.
“We went through [the offer] and considered the strategic implications of replacing the ANZ media owned account within the company.
“We looked long and hard at the value and importance placed on our relationship with Kiwibank, and the business decision ultimately led us to placing all of our commitment exclusively behind Kiwibank.”
Mr Manning confirmed that the decision was not necessarily influenced by an idea of not wanting to pitch for BNZ, but rather “a decision not to bring another bank into the agency, and focus all of our attention on Kiwibank.”
Currently competing for Kiwibank’s media business is IKON Communications, a media agency with offices throughout Australia, New Zealand and the US.
When asked whether Ogilvy would pitch against IKON Comms for Kiwibank’s media business, Mr Manning confirmed there were “no current plans to do so.”