"We have parted ways due to philosophical differences," says bank spokesperson Pam Agnew. The bank has hired Toronto consultants Scudamore & Associates to conduct an agency search. Scudamore officials refused to comment on the search.
Mike Fyshe, president-CEO of BBDO, was caught off guard by the Bank of Nova Scotia's dismissal of his agency and seemed at a loss to understand the move. "I'm disappointed," he says. "We've done some great work." Fyshe says it's too early to say whether the loss of the Bank of Nova Scotia business will result in job losses at BBDO although he says he is looking at that possibility.
BBDO picked up the Bank of Nova Scotia business in 1998 in an agency review after the bank's previous agency, Cossette Communication Marketing, was also caught off guard by a review.
Copyright December 2000, Crain Communications Inc.