Incumbent Ogilvy to Participate in Review

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NEW YORK ( -- TIAA-CREF is reviewing its marketing account, including its spending and agency relationships, the company said.

A spokesman said the New York-based investment management company is conducting a "marketing assessment" and its incumbent agency, WPP Group's Ogilvy & Mather, New York, is participating in the process.

New executive
The spokesman said the assessment follows the appointment in May of Steven Goldstein as executive vice president of public affairs, a new position in charge of marketing strategy, advertising and corporate communications.

TIAA-CREF spent $20.5 million in measured media in 2002, according to TNS Media Intelligence/CMR, but the spokesman said spending is part of the media strategy in review.

He would not specify a time frame for a decision, but said the review is expected to be "a compact process."