|Citibank is said to be meeting with 25 agencies in the first phase of its review.
Citibank, which now spreads its work over a number of direct agencies, is said to be meeting initially with about 25 agencies with an eye toward trimming its roster to two or three shops. The work in play is divided into three areas, including strategic and Hispanic duties.
The work is expected to be worth about $20 million to $30 million in revenue.
WPP Group’s Wunderman, New York, handles a significant part of the work and is pitching in the current review, according to these executives. A Wunderman representative referred calls to the client. A call to Citibank was not returned.
Citigroup, parent of Citibank, is the second-largest issuer of Visa and MasterCard credit cards behind JP Morgan Chase, according to CardWeb.com. Citigroup also began issuing American Express cards last year.