NEW YORK (AdAge.com) -- The Nasdaq OMX Stock Market has appointed McCann Erickson, New York, as its new lead creative agency without a review, according to executives familiar with the matter. McKinney, Durham, N.C., was the incumbent on the estimated $20 million to $25 million account since 2001.
Representatives from the shops referred calls to the stock marketer, which did not immediately return a request for comment. Executives familiar with the situation say the agency change comes as Nasdaq OMX is aiming to overhaul its current marketing strategy to focus on the technological assets and scale the exchange has to offer.
As the financial markets became more volatile in late 2007 and early 2008, the exchange launched a new campaign that highlighted individual companies that list there. A series of TV ads centered on companies such as eBay, Amazon and Starbucks to try to attract more firms to list with Nasdaq OMX.
Now, the exchange wants new creative to focus on the stock market's brand itself, executives say.
The new work, which will break in a matter of weeks, is expected to target a broader audience of individual investors, financial institutions and public corporations of every size and stripe.
Nasdaq OMX, which was created through the merger of Nasdaq and a European stock exchange in 2008, claims to be the world's largest exchange company, delivering trading and exchange technology to some 3,700 listed companies in more than 30 countries. In 2009, more than $28.9 billion in value traded on its markets.
According to its 2009 results posted last week, Nasdaq's full-year 2009 profits fell to $266 million, from $319 million for full-year 2008. It added that fourth-quarter expenses rose largely due to increased marketing and advertising spending.