Arnell, part of Omnicom Group,
"We are going to work on the identity of the bank in all its areas," said Peter Arnell, president of the Arnell Group, "from communication to architecture to retail products."
Billings for the assignment were not disclosed.
Similar to Masterfoods arrangement
The arrangement is similar to the Arnell Group's relationship with Mars' Masterfoods USA, which named Arnell its principal "marketing development" agency last year. With that assignment, Arnell was asked to take the lead in integrating marketing identity and themes across all brands.
Arnell is also expected to work on the bank's media planning, an account that is in review.
Omnicom's PHD and Interpublic's Initiative North America are in that review, along with Bcom3 Group's Starcom and Zenith Media, which is owned jointly by Publicis Groupe and Cordiant Communications Group. The media review, which was supposed to be decided early this month, had been pushed up due to an illness in the family of a key marketing executive at the bank, said executives in the review.
Bank of America also works with two other New York-based Omnicom agencies, BBDO Worldwide, which has an assignment for its Asset Management Group, and Doremus Advertising, which handles business-to-business advertising.
Last year, Bank of America spent approximately $160 million on measured media, according to Taylor Nelson Sofres' CMR.