The account, worth around £2 million, was awarded after a pitch against other networks understood to include MindShare and Starcom Media-Vest Group.
MPG's task will be to target the financial services sector with the message that CNBC is the leading business channel for executives. A recent pan-European print campaign, using titles including the Financial Times and The Wall Street Journal Europe, used copy lines including "Business news. 100% proof" and "Business news. Concentrated."
Gary Groenheim, the head of marketing at CNBC Europe, cited MPG's financial experience as a reason for its appointment. He said: "It is perfectly positioned to help CNBC Europe reinforce its brand to its existing audience and build awareness among a broader business audience."