Axis Bank has shifted its media business to MediaVest Worldwide, a part of the Starcom MediaVest Group (SMG). MediaVest would handle the business from its Mumbai office. The account was earlier with Madison Media.
The mandate covers media planning and buying for all Axis Bank campaigns and is effective 1 August 2012. Industry sources estimate the size of the account to be around Rs 70 crore.
SMG has been strengthening the MediaVest brand across Mumbai, Delhi and Bangalore and will soon announce a few senior management hires, said a statement from the company.
Confirming this development, Manisha Lath Gupta, chief marketing officer, Axis Bank, said, “While evaluating, we realized SMG has robust planning tools which will help us integrate across different mediums. With their human experience strategy and approach, we believe, they are well poised to handle the media challenges lying in front of Axis Bank for the future”.
Malli CR, chief executive officer, SMG India, added, “Axis Bank is a blue chip client and we are honored and delighted to have them on board. They have an exciting brand vision and we look forward to delivering their goals with SMG’s future focused media product that is predicated on insights and analytics, digital and content."