This wider vision comes even though the New York-based agency, known for doing "tombstone" financial advertising, just snared a major new piece of business-to-business work, a new global $15 million account for Credit Suisse First Boston.
Scheduled to break by the end of the first quarter, media will be handled by KDM International, the planning and buying arm of Doremus, which is a unit of Omnicom Group.
RUBIN TAKES LEAD
Lou Rubin, Doremus exec VP-director of marketing planning, is spearheading an effort to gain mutual fund, insurance, retail brokerage and retail banking accounts.
Also now on board is the former Y&R Advertising copywriter/art director team of Richard Kelley and Peter Gibb.
Doremus concentrated its attention on business-to-business in 1993, when then-President Parry Merkley and Director of Client Services Stephen Harty spun off their own agency, Merkley Newman Harty, and took with them $40 million in accounts that included Forbes, WordPerfect Corp. and Bankers Trust Co.
Doremus is now touting its experience at a time when traditional agencies are lining up to increase their billings on the financial side. In the Credit Suisse pitch, Doremus beat McCann-Erickson Worldwide, Lord Group and Messner Vetere Berger Schmetterer McNamee/Euro RSCG.
Doremus President Carl Anderson said the agency has the financial "knowledge and expertise" that traditional agencies lack. "This is a business that we live in day in and day out."
Added Mr. Rubin, "There is a revolution happening in financial services. Baby boomers have recognized that their work isn't going to take care of them, the government isn't going to take care of them and they're thinking about retirement. They are beginning to sock money away."
Mr. Anderson added that a changing financial scene is another reason for increased marketing budgets.
Financial service companies "are becoming more knowledgeable about the need for financial marketing and branding of their companies," he said.