Standard Chartered Bank Singapore has concluded it’s search for a media agency naming Carat Singapore as its partner. This is after a six-month long pitch launched in June of last year.
Carat is charged with media buying and planning duties and the pitch will extend globally and is being run out of Singapore as the hub according to sources.
Consulting firm R3 oversaw the pitch. In July 2016, Havas Media, UM and MEC made the shortlist. Meanwhile, OMD was the incumbent on the account.
The call for a pitch was in response to a recent initiative to streamline processes and maintain efficiency in the organisation, Marketing understands. In June 2016, it was reported by new sources that plans for the bank to pour in approximately RM 123.3 million (US$30million) in Malaysia are underway.
According to a report on The Star, the money will be used to run a global technology and operation hub under wholly-owned subsidiary, Scope International.