NEWS: Investment bank set for global campaign

Stiffening competition in the banking sector has forced Deutsche Morgan Grenfell to join its American counterparts in using an advertising agency to help foster its image with a global ad campaign.

Stiffening competition in the banking sector has forced Deutsche Morgan

Grenfell to join its American counterparts in using an advertising

agency to help foster its image with a global ad campaign.



DMG, which was formed from Deutsche Bank’s acquisition of Morgan

Grenfell in 1990, hopes to become the first investment bank to use truly

creative advertising.



It is understood to have asked Howell Henry Chaldecott Lury, Leagas

Delaney, WCRS, headed by its managing director, Stephen Woodford, and

two other agencies for meetings next week.



From these, a shortlist of two or three agencies will be selected to

make a final creative and strategic pitch early next month. The account

is expected to be worth pounds 1 to pounds 2 million.



‘We need to get a place at the global table,’ James Murray, DMG’s head

of corporate affairs, explained. ‘Part of the brief will be to bring a

degree of creativity, which is not always associated with financial

advertising, into our campaign.’



To date, DMG has only ever used so-called ‘tombstone advertising’ to

announce deals and mergers. However, its US competitors such as Goldman

Sachs, J. P. Morgan and SBC Warburg, have all run corporate advertising

campaigns.



Murray said he had no preconceptions about the campaign, which will aim

at an international financial community already well-versed in the fact

that the corporation exists, but unclear on what its values and benefits

are.



A decision is expected by the end of March.



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