The result of the six-month review is a boon for Draft, which lost its chunk of the Bank of America account last year.
'Publicis Powered by Fallon'
In its announcement, Citigroup reinforced its relationship with Publicis Groupe's Fallon Worldwide by officially announcing the agency's global creative responsibilities under a model called "Publicis Powered By Fallon."
Under the system, Fallon Worldwide develops and directs worldwide creative; Publicis Worldwide offices execute the programs. The agency model has been increasingly implemented internationally during the last couple of years and replaces the responsibilities of various local agencies as well as Wunderman, which in some countries had handled both advertising and relationship marketing, a Citigroup spokesman said.
Cuts in spending
Wunderman is now the global agency of record for the relationship- marketing piece of Citi's credit and charge cards, retail banking and consumer-finance businesses. WPP's Mediaedge:cia remains Citi's global media agency.
Citigroup recently stirred up the media community by making dramatic cuts in media spending, estimated by Advertising Age to be up to $120 million. In the U.S. last year, Citigroup spent $584 million on Citi-branded consumer products, according to TNS Media Intelligence.