Axis Bank has shifted its media business to MediaVest Worldwide, an agency belonging to the Starcom MediaVest Group (SMG). MediaVest would handle the business from its Mumbai office. The account was earlier with Madison Media.
The mandate covers media planning and buying for all Axis Bank campaigns and is effective August 1, 2012. Industry sources estimate the account to be at Rs 70 crore.
Confirming this development, Manisha Lath Gupta, CMO Axis Bank said, “While evaluating, we realised SMG has robust planning tools which will help us integrate across different mediums. With its Human Experience Strategy and approach, we believe, it is well poised to handle the media challenges lying in front of Axis Bank for the future."
This prestigious win adds to the long list of new business wins for Starcom MediaVest Group since last year that includes Aircel, Dabur, Novartis, Supermax, Zee Learn, Sterling Holidays, etc.
Malli CR, CEO, SMG India said, “Axis Bank is a blue chip client and we are honored and delighted to have them on board. They have an exciting brand vision and we look forward to delivering their goals with SMG’s future focused media product that is predicated on Insights and Analytics, Digital and Content."
SMG has been strengthening the MediaVest brand across Mumbai, Delhi and Bangalore and will soon announce a few senior management hires.