Citigroup To Cut Thousands Of Jobs Amidst Posting Huge Loss

HONG KONG: The Media Edge has knocked Motivator off Citibank's media buying and planning account for Hong Kong following a two-way shootout for the agency of record assignment.

The US$20 million account was consolidated as the US banking giant was looking to gain better economies of scale in media servicing. With the win, The Media Edge will take over credit cards, Ready Cash and the Diners accounts. Euro RSCG handles the creative assignment, which remains unchanged.

Prior to the win, The Media Edge was handling Citibank's Hong Kong banking account for work created by Dentsu Young & Rubicam.

The agency's Hong Kong managing director, Maggie Tsui, said: "We will work closely with Euro to support the card business, Ready Cash and Diners."

It is expected that Hong Kong's banking sector, despite facing a slowdown of the loan business, will emerge as one of the strongest categories this year as bigger budgets are poured into marketing credit cards. The Media Edge has been steadily building up its share of Citibank's media assignments across the region. In Asia, the agency's offices in Singapore, Malaysia, the Philippines, Thailand, Taiwan and Indonesia also handle media assignments for Citibank products serviced by DY&R.

By: MBSTAFF


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