Grey has been picked to handle a major new investment product by UBS, one of Europe's largest banks, having seen off a challenge from Bartle Bogle Hegarty, which became a UBS roster shop at the end of last year.
Grey has been briefed to launch the product, known as an exchange traded fund - described as having 'the security of a bond and the excitement of a share' - and hailed as the next big thing in the financial services industry.
Media buying for what is expected to be a multimedia campaign, including TV, is being handled by Starcom Motive, currently responsible for UBS's online business.
Martin Smith, Grey's chief executive, who joined the agency earlier this year from BBH, where he was deputy chairman, confirmed the win but would not disclose details. UBS was not available for comment as Campaign went to press.
UBS is expected to test-market its product in one European country before rolling it out across the Continent.