The World: Ho Chi Minh City - Leo Burnett loses ANZ Bank task to Lowe

ANZ Bank, the Australia-based financial network, has swapped Leo Burnett for Lowe as part of an effort to reposition its brand in Vietnam following the country's entry into the World Trade Organization.

Lowe picked up the assignment after a final shoot-out with Saatchi & Saatchi and local agency Song Huong Orchid.

Sabyasachi Mishra, the managing director of Lowe Vietnam, said: "Banking is about to change dramatically in this country."

He added: "At this point, being the international bank with the longest experience in Vietnam, ANZ is best placed to emerge as a powerful entity in this market."