After a four-month competitive review, Dentsu International has successfully defended its global media remit with Standard Chartered, earning a notable five-year extension as the bank's media agency of record, Campaign has learned.
The new mandate includes Standard Chartered’s global markets across media planning, buying and strategy. The global strategy team responsible for cross-market campaigns will continue to be based in Singapore while local markets will continue to provide localised media services.
"Dentsu came to the table with a deep knowledge of our business, our commitments and how we can drive growth from the media with an impressive service model and a team aligned to that value set," said Emma Sheller, global head of brand strategy and consumer, private and business banking marketing at Standard Chartered.
The review, run out of Singapore by R3, began at the end of May 2021 and was completed by the end of September. R3 declined to comment for this article.
"We presented Standard Chartered with a team of brilliant people, who felt passionately about delivering performance with purpose for the Standard Chartered business, which set strong foundations for us to build the next five years on," said Prerna Mehrotra, Dentsu's CEO of Media for APAC. "Our vision for good growth, delivered through our ‘one Dentsu’ service model across the diverse markets Standard Chartered operates in, delivered the competitive advantage for the team. We are thrilled to be continuing our partnership with them.”
Stanchart has been working with Dentsu media agencies since 2017, when Carat won the business from OMD.
Not too much can be read into crediting Dentsu International for the win this time over the agency brand, as Campaign understands Stanchart has already been one of Dentsu's most integrated clients over the last few years and was even one the first few clients to shift to a 'one Dentsu' service model. While Dentsu said Stanchart's renewed mandate is a vindication of its consolidated service model for clients, it nonetheless re-designed aspects of this service through this review to suit SCB's changing requirements.
Sheller, however, instead emphasised the consistency of the brand's shared outlook with Dentsu, as it related to the review's outcome:
“At Standard Chartered, we are here for good," Sheller said. "It’s the motivation of our business, and a principle we clearly share with Dentsu in the commitments and progress they’re making to be a force for good. We are committed to reducing carbon emissions, lifting participation and improving lives, and setting a new model of globalisation based on transparency, fairness and trust. It is important for us to have a partner with shared values and ambitions who would work with us to achieve our goals."
A version of this article first appeared on Campaign Asia-Pacific