"We are planning to conduct a resource review of our advertising agency partners to identify a global agency of record for the company," a spokeswoman for Detroit-based GMAC said. "The review is part of our effort to continue building our business as a diversified financial services partner," and, she added, it comes as the company searches for "a more cohesive approach" to its marketing.
Rojek leading the search
Cleveland-based Rojek Consulting Group has been tapped to oversee the search process, expected to wrap in June, the marketer said.
Incumbent agencies on the wide-ranging account could not be immediately determined; GMAC declined to confirm the status of its current marketing-agency relationships.
Founded as a unit of General Motors Corp., GMAC was created in 1919 to provide GM dealers with the financing necessary to acquire and maintain vehicle inventories and to provide customers a way to finance vehicle purchases.
Operations span 40 countries
It has since grown its line of businesses to include insurance, commercial finance and real-estate financing, and now operates in about 40 countries. GM in 2006 sold a controlling interest in its GMAC unit to a consortium of investors led by Cerberus Capital Management.
GMAC holds nearly $250 billion in assets and last year spent a total of $54.8 million domestically on measured media, according to TNS Media Intelligence, much of it devoted to the company's home-financing business, Ditech.com.