graphic
News
Citicorp stuns ad world
August 8, 1997: 7:23 a.m. ET

Company dumps three agencies and hands account to Young & Rubicam
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - Citicorp pulled its $500 million advertising account from three shocked agencies and gave the unsolicited business to Young & Rubicam Inc. to boost its name recognition world-wide.
     The bank, parent to Citibank, dumped WPP Group's J. Walter Thompson; True North Communications' Foote, Cone & Belding,; and Interpublic Group's Lowe Group, according to press reports.
     The decision on Madison Avenue was a bombshell because nobody expected Citicorp to pick one agency. It also marked the second time in recent months that an agency won a top account without asking for it.
     Closely-held Young & Rubicam created "The softer side of Sears," and the phone-your-family AT&T ads.
     Citicorp's chairman John Reed reportedly wants the company to have the same recognition as Coca-Cola or American Express. Back to top

  RELATED STORIES

New ads boost milk industry - July 29, 1997

Lucrative ads during Academy Awards - March 6, 1997
  RELATED SITES

Citicorp's Citibank

Young & Rubicam

Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council