The World: Charlotte - Wachovia reviews $120m creative and media

Wachovia, the fourth-largest bank holding company in the US, has put its $120 million creative and media accounts - currently handled by Mullen and Carat - into review.

The Interpublic-owned Mullen, based in Winston-Salem, has handled offline creative and media since 2001. Aegis' Carat Interactive in Boston has looked after the online assignment for the past four years.

Wachovia said the review had not been called because of any displeasure with either agency's performance, but was more to do with the length of time they had worked on the business. Both will be invited to repitch. Recently at the company, Art Smith took over as the director of brand management and the long-serving executive Ranjana Clark became the chief marketing officer.