Razorfish did not compete in the pitch process and SapientNitro was also a finalist for the business. Capital One, with approximately 1,000 branches primarily on the East Coast and in Texas, is also on the hunt for a social-media partner.
360i referred calls to the client. Capital One did not respond to requests for comment.
Razorfish resigned the business because of client conflict, said an agency spokesman, who declined to provide specifics. CitiGroup has a strong relationship with Publicis Groupe, the holding company that acquired Razorfish last year. Its now-sibling Publicis Modem has traditionally handled digital for Citi, including the bank's recent iAds, the mobile ads for Apple devices.
Capital One fell from a top 50 U.S. advertiser in 2008 to No. 75 in 2009, with total media spending dropping from $287 million to $180 million, according to Ad Age Data Center. Citi saw similar declines during the recession, falling from the No. 29 U.S. ad spender to No. 70, with a nearly 50% decline in media dollars.
Capital One spent $30 million in U.S. measured internet media in 2009, according to Kantar Media. 360i will also handle search buying. Kantar numbers do not reflect search.