J.P. MORGAN CHASE AD WORK GOES TO MCGARRY BOWEN

New York Independent to Work on Retail Banking Business

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NEW YORK (AdAge.com) -- J.P. Morgan Chase has awarded creative duties for its consumer retail advertising account to independent ad agency McGarry Bowen, according to executives close to the review.

Representatives from J.P. Morgan Chase

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did not immediately return calls for comment. A McGarry Bowen spokesman declined to comment.

Contenders
McGarry Bowen, a New York-based agency, beat out Omnicom Group's BBDO Worldwide, New York; Interpublic Group of Cos.' Hill, Holliday, Connors, Cosmopulos, Boston; and independent Gardner Nelson & Partners.

J.P. Morgan Chase is the new entity created by the July 1 merger of J.P. Morgan Chase & Co. and Bank One Corp. Gardner Nelson was Bank One's incumbent. Chase's incumbents, Interpublic's Foote Cone & Belding, New York, and Martin Agency, Richmond, Va., did not take part in the review.

The creative duties for J.P. Morgan Chase are expected to encompass a range of services from brand positioning to advertising for the company's retail products, including credit cards, following the merger with Bank One.

Estimated billings: $300 million
Spending on the business has not been stated, but it has been estimated at $300 million. According to TNS Media Intelligence/CMR, J.P. Morgan Chase spent $43 million in measured media in 2003; Bank One spent $143 million.

This is another big win for McGarry Bowen, whose principals include John McGarry, a former executive at WPP Group's Y&R Advertising, and Gordon Bowen, a former creative executive at WPP's Ogilvy & Mather. Last year the agency scored a major win with a large chunk of the $80 million creative account from Marriott International and it also has handles Verizon Communications.