VERIZON EXEC TO TAKE SCHWAB TOP MARKETING POST

Jody Bilney to Direct All Communications Strategy for Financial Services Firm

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NEW YORK (AdAge.com) -- A top Verizon Communications executive for brand management and marketing is leaving her post with the telecommunications company to join financial services firm Charles Schwab as is chief marketing officer.

Jody Bilney, 40, senior vice president for brand management and marketing communications at Verizon, will join Schwab in mid-July and will direct strategy for all of the company's brand, marketing and corporate communications activities, Schwab said.

AdAge.com reported Monday that Jack Calhoun, senior vice president of advertising and brand management at Schwab, resigned effective at the end of the month as the company searched for a new chief marketing officer.

Verizon's marketing and brand management group will report to Bruce Gordon, president of the Retail Markets Group, until a successor is named, according to an internal Verizon memo obtained by AdAge.com.

A Verizon spokesman did not return phone calls by press time.

Interpublic Group of Cos.' Lowe & Partners, New York, handles Verizon Communications' estimated $600 million advertising account. Sibling Interpublic shop Bozell, New York, handles Verizon Wireless' advertising, which is part of the account.

Omnicom Group's GSD&M, Austin, handles Schwab. According to Taylor Nelson Sofres' CMR, Schwab spent $138 million in 2001.

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