Fidelity Investments has decided to stick with with Arnold Worldwide.
According to the Boston Globe
, the Boston behemoth said it will retain the Boston-based ad agency for its advertising business, after putting the Arnold-run account up for review last year. Sources speculate that the account is worth between $60 million and $75 million a year in billings and could grow as the as the economy improves.
Hearing that the Fidelity account could have been up for grabs, some of the nation's top agencies, including TBWA/Chiat/Day
and BBDO Worldwide
, made bids. But Arnold went back to the drawing board and make improvements to keep the business.
"They said that they liked a lot of the work we had done for them over the last couple of months," said Fran Kelly, Arnold's president. "They liked the improvements we were making to their team."
A Fidelity spokeswoman, Jenny Engle, said the decision reflects Arnold's "deep understanding of Fidelity and commitment to our business."
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