It's been announced today that the United Overseas Bank, one of the largest financial services groups in Southeast Asia, has severed its ties with the Publicis Groupe agency Leo Burnett Singapore, who were formerly the banking organisations agency of record since 2010. This news arrives following reports that the bank had been holding a pitch to choose a new agency after months of speculation.
United Overseas Bank, one of the largest financial services groups in Southeast Asia, has severed its ties with the Publicis Groupe agency Leo Burnett Singapore
At the time, Leo Burnett denied any knowledge of the review, but it has emerged this week in a statement from Josh Grace, the agency's managing director, that they were ready to part ways with UOB, with Grace stating; “Most would agree that in today’s realities, five years is a decent time frame for a review of the business on both ends.” The Australian born Grace joined Leo Burnett Singapore as managing director from the network's Sydney office two years ago.
One of the ads created by Leo Burnett for UOB's Lady's Card in 2010
He says the agency is proud of the work they've done with UOB over the last five years, and is especially happy “To have been a part of key launches including the regional re-launch of the UOB lady’s card, and the launch of Privilege Banking that have helped further the growth of the UOB brand.” He adds that despite the fact they were parting ways, Leo Burnett “Wish UOB and their new creative partner a successful relationship” going forward.
The new agency pitch is being led by Wendy Ong, UOB's executive director and head of group retail marketing
The pitch list remains unclear at the time of writing, but names initially rumoured to be involved include all of the obvious players; Saatchi & Saatchi, Publicis Worldwide, DDB, Grey, BBH and Havas Worldwide. The pitch is being led by Wendy Ong, UOB's executive director and head of group retail marketing. Ong spent much of her career at DDB Singapore, but it remains to be seen if that fact will work in the agency's favour. A spokesperson for UOB said the bank “Do not comment” on the relationships they have with their “Vendors and suppliers.”
Official Leo Burnett Singapore Website
Benjamin Hiorns is a freelance writer and musician from Kidderminster in the UK.
