Carat takes global MasterCard business from UM
UM has lost one of its global alignments with Carat taking the MasterCard business from the IPG Mediabrands agency.
The decision, after the account was pitched globally and locally, was announced overnight and in the Australian context sees UM lose an account thought to be worth around $10m-$15m a year.
“We are absolutely thrilled to be working with Mastercard and we look forward to demonstrating our true value across the evolving media landscape,” Simon Ryan, CEO of Carat told Mumbrella.
CEO of UM, Mat Baxter said he was disappointed but was part of the cut and thrust of global business. “We’re disappointed that it is leaving us because it is a great piece of business and we have a great relationship with the client,” he added.
“These things happen with global business it was pitched in all the key markets around the world and it was gone in all markets around the world for us with the exception of Latin America,” he said.
“We are proud of the work we have been producing and wish them all the best in their new relationship with Carat.”
It is the second piece of business to move from UM to Carat in the last four months, as in late September the Aegis agency won the $40m L’Oreal account held by UM in a pitch that was solely in the domestic market.
Nic Christensen
