WPP's Y&R group currently handles the lion's share of Bacardi's global creative, including advertising for its flagship Bacardi Rum brand.
Adam Hillyer, BGB's global marketing services director, is heading up the review. He has contacted network agencies to complete a request for information in the past week. He is drawing up a longlist composed of roster and non-roster shops.
Hillyer was promoted from the director of sales at Bacardi-Martini UK to his current position in May 2006.
Industry sources suggest that he is now looking for a network agency with a strong presence in London, New York, and the sub-markets of Spain, Russia and Germany.
Rainey Kelly Campbell Roalfe/Y&R was appointed to run the global business for Bacardi-Martini out of the London office in December 2005, following a five-way pitch that involved Wieden & Kennedy, Fallon, David and Goliath, and the then incumbent, McCann Erickson.
Other big Bacardi brands likely to be affected by the review are Grey Goose, 42 Below, Bombay Sapphire and Martini.
Meanwhile, it has emerged that Bacardi is holding a separate global pitch for its Dewar's Scotch whisky brand.