TD has awarded its Canadian creative account to Ogilvy, part of North American consolidation with WPP that will see David overseeing U.S. creative.
“We look forward to working with Ogilvy and David and know that their team’s creativity, energy, and market expertise will help TD further elevate our brand and business for the future,” said Betsey Chung, executive vice-president and global chief marketing officer, TD Bank Group, in a release.
“Through the agency RFP process, we were highly impressed by their award-winning work based on strong strategic insights and their committed agency teams. Their insights into our brand, customers and purpose-driven values are aligned with our vision and aspirations.” TD declined requests for an interview.
“We are grateful to be entrusted with helping build and evolve the respected and beloved brand that is TD,” said an Ogilvy spokesperson. “It is a validation of Ogilvy’s heritage of building great brands.”
The announcement concludes a months-long process dating back to 2020, when the bank parted ways with long-time incumbent Leo Burnett and was rumoured to be looking for a North American arrangement. The U.S. business has been handled by TBWA\Chiat\Day since 2016, but the TD statement said that a “joint decision” for TD and TBWA to conclude their relationship was made a few months ago.
During the review process, the bank also promoted Chung to chief marketing officer of TD Bank Group, replacing Theresa McLaughlin, who joined State Street as global chief marketing officer in Boston.
Very early in the process, it was believed that Diamond, Cossette, TBWA\Chiat\Day New York and Accenture were all invited to pitch. Diamond, which has worked with TD for some time and did some brand work for the bank last year, was named TD’s North American sponsorship and experiential agency.
The bank also announced that it has aligned its North American media with Publicis Media, retaining Unison, the bespoke agency created by Publicis Groupe to work on the TD business in 2016, and adding Zenith Media in the U.S.
This is the second move of a major Canadian financial services assignment in less than a year. In December, Scotiabank named Rethink its creative agency of record.