Bank of America has restructured its agency roster and is moving its consumer banking business from a dedicated WPP team to Hill Holliday, which already served as lead creative on enterprise and global wealth management. The shift appears to give the Interpublic Group of Cos. agency the bulk of Bank of America's creative business.
Bank of America spent $1.58 billion on U.S. advertising in 2014, according to the Ad Age Datacenter.
The review, which was believed to only include existing roster shops, was issued to help simplify and the increase the company's speed to market, according to people familiar with the matter. It is understood that no consultant was used.
In 2012, the company brought on the WPP group called Team BAC for its brand advertising business, expanding the holding company's existing business for Bank of America, which already included Brand Union for branding and communications and Burson Marsteller for PR.
Publicis retains all of its media planning and buying and digital capabilities; no other changes were made to the Bank of America agency roster.
In addition to the consumer bank, enterprise, and global wealth management businesses, Hill Holliday handles creative for Merrill Lynch and U.S. Trust.
Representatives from Hill Holliday and WPP were not available for comment.
Bank of America declined to comment.