Citizens Financial Group Inc. said today that it has selected five finalists in its search for a new ad agency. The news comes about a week after Boston-based Arnold Worldwide, it's agency since 2001, said it would withdraw from the review process.
The selected firms, which have been notified by CFG, are Draftfcb, Grey, Mullen in Boston, Ogilvy and Y&R.
"Arnold has been a valued partner to Citizens and we appreciate the role they have played in helping to propel our business” said Theresa McLaughlin, Chief Marketing Officer at Citizens said in a statement. “While we were sorry to see them withdraw from the review, we wish them luck and remain focused on identifying the right agency to fuel our next phase of growth."
One Boston advertising professor said that ad agenices are hungry for new clients and the Citizens would make a great addition to a company's portfolio. "This is a time in the advertising world when advertisers are just beginning to spend again,'' said Geoff Klapisch, a Boston University advertising profsesor. "Citizen has the attention of five major league agencies. What it shows to me that agencies are hungry and that Citizens are taking an active position that they want to be in the marketplace.