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
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
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
A decision is expected by the end of March.