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The long-due action from Standard Chartered Bank regarding its advertising duties has finally culminated. Following the global alignment last year, wherein Standard Chartered had taken off the business from WPP agencies and awarded them to TBWA, the change was applicable in the Indian market as well. In January, TBWA\India took care of the creative business and now the media has moved. The account is pegged at Rs 20 crore.
Agency officials confirmed the development but offered no further comments, citing the reason that it was still early to divulge other details around the account. The business would be serviced from Mumbai. TBWA\India’s Media Head Gopinath Menon will be on the business.
It may be recalled that when the creative duties moved earlier this year, Standard Chartered officials had expressed that TBWA\India would play a key role in deciding the agency that would take care of the business. Prior to this, Maxus, Standard Chartered’s media agency before the global movement, had been handling the media business. Neither the client nor the agencies involved have offered reasons for the change not taking place earlier.
Informed sources divulged that since requisites that were delaying the movement had been managed now, the long awaited change would be taking place soon. With this, all functions of Standard Chartered Bank, which includes banking services, loans, credit cards, come into the custodianship of TBWA\India.