AgencySpy posted a memo from Ogilvy NY COO Lou Aversano that celebrated the agency’s “win” of the E*Trade account. Aversano’s missive added texture to the stories from Adweek and Advertising Age—but it’s still tough to determine the truth. Piecing together the various perspectives seems to indicate that E*Trade launched a review involving up to five agencies, at least three of which were WPP siblings (not counting ex-incumbent Grey). After the first “round” of competition, E*Trade CMO Liza Landsman ended the pitch and awarded her business to Ogilvy. Of course, Landsman has worked with Ogilvy executives in the past, making the decision a clear case of Corporate Cultural Collusion. It’s insider trading of White advertising agencies.
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