NEW YORK (AdAge.com) -- Verizon Communications is moving its estimated $40 million to $50 million U.S. Hispanic account to independent Lopez Negrete Communications from incumbent GlobalHue after one of the biggest reviews in the Hispanic market this year.
GlobalHue is expected to keep the Verizon Wireless portion of the account, as well as the African-American agency of record assignment.
GlobalHue has experienced a great deal of management turmoil over the years on the Hispanic side of its business, which accounts for about half of the company's revenue, but the last year has been unusual even for GlobalHue. Gustavo Razzetti left in July after barely a year as president of GlobalHue Latino and GlobalHue New York. Laura Marella, vice chairman of GlobalHue Latino, departed in early September. Right after that, the agency announced that GlobalHue founder and CEO Don Coleman would become general manager of both the New York and Southfield, Mich., offices. In late September, Media Director Nelson Garcia left the company.
The review for the Verizon Communications business started this summer. Lopez Negrete pitched against the incumbent and U.S. Hispanic agencies Wing, Casanova Pendrill and Zubi Advertising.
Lopez Negrete will handle Verizon's landline telephone, TV and high-speed internet services, including the fiber optic service Fios. In addition to creative, the account includes media planning and buying, digital, promotions, event marketing and public relations.
"The firm's Hispanic expertise will help us reach a very important audience of consumers and small businesses," said Oscar Madrid, Verizon's director of multicultural marketing for consumer wireline and business services.
Lopez Negrete is the fifth-largest U.S. Hispanic agency, with 2009 revenue of $25 million, according to Ad Age's ranking of the top Hispanic shops. Based in Houston, Lopez Negrete's clients include Walmart Stores, Bank of America, Kraft Foods and MillerCoors.