News

BMF loses CommBank

BMF has been dropped by CommBank, the ad agency’s parent company Enero has told the ASX.

The move comes after CommBank consolidated its creative work – most of which was previously done by Goodby Silverstein – with M&C Saatchi. BMF had worked on mainly on direct and digital parts of the account.

The update said: “BMF is no longer under a retainer arrangement with the Commonwealth Bank.

“The Commonwealth Bank retainer amount represented approximately 3.21% of net revenue on a continuing business basis for Enero in the financial year ending 30 June 2012 and the project work approximately 1.70% of net revenue on a continuing business basis.

“BMF continues to have a positive relationship with the Commonwealth Bank and the change of contractual arrangements allows BMF to continue to provide project work to the Commonwealth Bank on agreed commercial terms.

ADVERTISEMENT

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.