According to Tanuj Philip, M&C Saatchi’s Singapore CEO, the appointment did not involve a competitive pitch, and Y&R was the incumbent on the account.
For the bank, the objective of appointing a new agency was to reach out to more high-net-worth individuals in Singapore. The scope of work covers campaigns across TV, print, digital and direct marketing.
OCBC Bank oversees branding and marketing communications for Bank of Singapore.
“The private banking landscape has changed, and what makes it exciting is that the new generation of millionaires are of a different breed,” said Koh Ching Ching, head of group corporate communications. “We wanted an advertising agency with a deep understanding of these changing trends, and felt that M&C Saatchi Singapore fits the bill.”
M&C Saatchi's senior team members have an average of more than a decade of financial services experience, and the agency will be able to provide fresh perspectives and insights to a category that is being redefined, Philip said.
Bank of Singapore currently has US$46 billion in assets under management.
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