A spokesman for BBDO, which has had the online broker's account since late 2004, confirmed that the agency and E-Trade had mutually agreed to part ways, citing a conflict with BBDO's Bank of America business.
For Grey, the shift marks another major financial-services win; in late October it added Fortis' estimated $200 million account after a six-month review, as first reported by AdAge.com.
An E-Trade spokeswoman did not return calls for comment by press time. An e-mail to the company's chief marketing officer, Nick Utton, was not returned by press time. Grey declined to comment.
E-Trade and its various banking businesses spent $127.1 million on U.S. measured media in the first half of 2007 and $181.4 million in 2006, according to TNS Media Intelligence.