ZenithOptimedia has picked up the media account for Rabobank.
The multi-national financial services company is headquartered in the Netherlands and has a strong focus on food and agri-business as well as broader financial services. Locally, it spent an estimated $4.6m on main media for the 12 months to February 2014, according to Nielsen data.
However, the account includes search and sponsorship, which would likely take the value of the business north of $10m per annum.
Initiative previously held the account. Rabobank has relationships with Initiative and ZenithOptimedia globally.
Rabobank Australia & New Zealand general manager marketing and communications Renee Amor said Initiative had done "an excellent job in helping to grow both the Rabobank and RaboDirect businesses to exceed business targets consistently year-on-year for the past several years," but the bank wanted "fresh eyes" to look at its advertising strategy.
ZenithOptimedia will officialy take on the business on 1 July. CEO Ian Perrin said he was delighted to take on the account. "It was important that we kept new business momentum going into 2014. Rabobank couldn’t be a better statement of intent.”
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