Ogilvy & Mather and MindShare have picked up the $10 million global advertising account for ING Barings, the Dutch financial services company that bought Barings Bank for £1.
O&M pitched against the incumbent, DMB&B Financial, and two other unnamed agencies.
The advertising, expected to break in late spring or early summer, will target the general public as well as business decision-makers. It aims to shake off the traditional, stuffy image that many of the world's biggest merchant banks suffer from.
Observers believe that the old-fashioned image of may of the banks has become increasingly irrelevant as the financial services industry takes on a younger, hotter image in part because of all the dotcom players.
Paul Simons, group chairman of Ogilvy, said: "We want to present ING Barings in a fresh and contemporary way. We want it to look progressive and outward facing, not inward looking."
The campaign will be predominately press based, but some online work is also expected. It will target the world's financial centres including London, New York, Hong Kong and Frankfurt.