The win came after an extensive global agency review and pitch process. M&C Saatchi beat out DDB and incumbent Goodby Silverstein & Partners in the final round of the three-month battle.
Andy Lark, chief marketing and online officer for Commonwealth Bank, said the final stage involved some strong competition from each of the competing agencies. “Throughout the process, we saw outstanding strategic and creative thinking, delivered by what is clearly world-class talent, making this an extraordinarily tough decision," he said. “We are excited about working with Australian company, M&C Saatchi, as our new lead agency, on what will be one of the major brand campaigns of 2012 and beyond."
Lark noted that the bank will continue to refine its agency roster, potentially adding others to it for "direct, product, and segment-level work".
M&C Saatchi is the largest creative agency in Australia; it's other clients include David Jones, Google, News Limited, Optus and Woolworths.
M&C Saatchi Worldwide Chairman Tom Dery (pictured), who was involved closely with the agency's pitch to the Commonwealth Bank, described the win as “gratifying”.
"It's a huge win, a great brand, and a terrific opportunity," he told Campaign. “We are excited by the opportunity to again work with a Big Four bank, especially one as large, prestigious and successful as Commonwealth Bank.”
The account will be run out of M&C Saatchi's Sydney office, which currently employs around 370 staff.
