CommBank is reviewing its creative agency requirements.
M+C Saatchi is the incumbent and has held the account since 2012.
LBB reported the account was worth between $5 and $8 million and that M+C will attempt to defend the account.
CommBank’s marketing team is led by four-time B&T CMO Power List-er Jo Boundy.
“Great marketing has to have the right blend of insights around customer needs and cultural insights—it needs to resonate but also be really strong creatively, and tap into something that’s culturally relevant,” Boundy told B&T, adding that she was very proud of its most recent campaign developed by M+C.
“It was a very modern interpretation of ‘Can,’ which we’ve had for over a decade,” she said.
“We did a lot of research around how Australians were feeling, and what came out loud and clear was that there was this real desire to get ahead, but that for a lot of people, their personal, financial, societal situation meant that they felt like something was holding them back. ‘Doubt Never Did’ responds to that, about how you can release your personal potential.
“At CommBank, we’re proud that we’ve shown that, in a heavily regulated environment, we can still be very creative and innovative in what we’ve brought to market,” Boundy added.
A Commonwealth Bank spokesperson told B&T: “Like many large organisations, we regularly review our supplier partnerships as the needs of the business evolve. We are currently considering a range of partnerships.”
WPP Media’s EssenceMediacom currently handles CommBank’s media account. That portion of its activities is not currently being reviewed, B&T understands.
M+C Saatchi declined to comment when reached by B&T.
