CHARLES SCHWAB NARROWS AGENCY SEARCH TO SEVEN
Review Is for $95 Million Ad Account
CHARLES SCHWAB OPENS REVIEW FOR $95 MILLION ACCOUNT
Incumbent GSD&M Will Not Defend
Finalists in the review included independent Wieden & Kennedy, Portland, Ore.; Publicis Groupe's Publicis & Hal Riney, San Francisco; and Grey Global Group's Grey Worldwide, New York.
Select Resources International, Santa Monica, Calif., conducted the review. The marketer's incumbent, Omnicom Group's GSD&M, Austin, Texas, declined to defend.
Euro RSCG said in a statement it will handle the marketer's national brand and retail advertising account, "providing marketing strategy, creative execution as well as integrated marketing services," and that a new ad campaign is planned for early 2005.
Schwab has grown beyond its origins as a do-it-yourself discount broker into a more full-service brokerage that resembles some of the companies it originally challenged, such as Fidelity and Merrill Lynch. In recent months, it has overhauled its management, starting with the departure of CEO David S. Pottruck, who was replaced by the company's founder and namesake, Charles R. Schwab. Mr. Schwab became the company's ad pitchman as well; in one spot he talks about the responsibility of having his name on the door.
Executives involved in the pitch said, in the end, Euro presented a "big creative idea that they fell in love with."