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Part of $138 Million Account Had Been at BBDO

By Published on .

NEW YORK (AdAge.com) -- Charles Schwab Corp. awarded its $138 million consolidated media planning business to Omnicom Group's PHD, San Francisco, the agency said.

The move was made in March, prior to Schwab terminating its business with Omnicom sibling BBDO Worldwide, New York.

The San Francisco-based investment house then shifted the creative portion of its account to GSD&M, Austin, Texas, another Omnicom shop.

PHD had previously

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handled Schwab's print buying and planning while BBDO maintained the rest of the media planning account.

According to Taylor Nelson Sofres' CMR, Schwab spent $138 million on measured media in 2001.

The business was awarded to PHD based on the strength of its prior print relationship with Schwab. Jeanne Selvester, executive vice president and general manager of PHD in San Francisco, was instrumental in securing the win, an executive at PHD said.

Rubin Postaer & Associates, Santa Monica, Calif., handles broadcast buying for Schwab.

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