EXCLUSIVE: The Bank of Queensland (BOQ) has shortlisted three creative agencies to take on its $4.5m advertising account.
B&T can reveal that BWM, BMF and Clemenger Proximity each pitched for the business yesterday in Brisbane, with all presentations described as “incredibly good” by a BOQ spokesperson.
BOQ launched the closed review in early November, sending out credentials briefs to a total of six agencies across Australia.
Incumbent agency Junior did not re-pitch for the business on account of an “organisational shift” at BOQ which meant Junior would “not be in a position to retain the account”.
The bank told B&T in November: "BOQ has had a great relationship with incumbent agency Junior; however an organisational shift for change means they would not be in a position to retain the account. As a result, it was agreed by all parties that Junior would not participate in the review process.
"BOQ acknowledges the positive relationship and valuable contribution of Junior over the past two and a half years."
Junior was appointed in May 2010 after the bank decided to part ways with Brisbane creative agency Clemenger Harvie Edge (CHE), which held the account for four years.
Russ Vine, MD of Junior told B&T he was “relaxed and comfortable” with BOQ’s decision to look beyond Junior. “We discussed with BOQ at the outset what their requirements are and both parties agreed that Junior would not be in a position to retain the account,” he said.
Enero-owned agency BMF lost its retainer with the Commonwealth Bank in August this year when the corporation consolidated advertising duties with its newly appointed lead agency, M&C Saatchi.
BOQ spent an estimated $4.5m on main media in the period from August 2011 to July 2012, down from $9m the year before, according to Nielsen.
Last month BOQ poached Commonwealth Bank’s Andrew Murrell as GM digital and direct channels. Murrell, who commenced his new role at BOQ on Monday, led CBAs entry into social media and the on-going development of commbank.com.au.
Matt Baxby, BOQ group executive, retail said of Murrell’s appointment: “Andrew will lead a transformation of BOQ's current digital offering with the objective of building on growing consumer preference for online and social."