CIBC LAUNCHES ADVERTISING AGENCY ASSIGNMENT REVIEW
By Adnews Staff
Toronto-based Canadian Imperial Bank of Commerce has announced its advertising agency assignments are under review. The agency review is focusing on two components, strategic brand and media agency-of-record. To assist in the review process, CIBC will be hiring an unconfirmed industry search consultant. According to CIBC, the nature of its needs have changed and because of this a review is being done. Currently CIBC is negotiating a new agreement with its existing agency, Padulo Integrated Inc. of Toronto, for the line of business mass media creative advertising account. Padulo president and CEO, Richard Padulo has confirmed his agency will be participating in the review. Following CIBC's strategic brand and media search, it will be determining its French services needs as well as its supplier mix for direct mail, interactive, collateral and point-of-purchase materials. CIBC's plans are to have a broadened agency roster in place by spring 2000.