NEW YORK (AdAge.com) -- Capital One has hired Interpublic Group of Cos.' McCann-Erickson Worldwide, New York and London, to handle its advertising account, according to the financial company.
Media will remain with Publicis Groupe's MediaVest USA.
The banking company -- one of the
largest credit-card issuers in the U.S. -- launched a review late last year; the account was at Publicis' D'Arcy Masius Benton & Bowles, but Publicis closed down the agency following its acquisition of D'Arcy's parent, Bcom3 Group. Publicis' Kaplan Thaler Group, New York, had been handling the account in the interim; it pitched for the account with sibling Publicis UK, London.
The other contenders were Omnicom Group shops Element 79 Partners, Chicago, with Abbott Mead Vickers BBDO, London, and independent Faulds Advertising, London, which pitched alone.
Bob Wolf/TPG, Los Angeles, handled the search.
Capital One is an ad-spending leader in the financial services category, ranking just after the big three credit cards, American Express Co., Visa USA and MasterCard International. But the bank company has kept its marketing spending level, while most financial companies have reduced their spending during the market downturn.
Capital One spent $195.4 million in measured media in the U.S. in 2002, according to Taylor Nelson Sofres' CMR.