The gradual recovery of Saatchi and Saatchi has continued with the agency being hired by the Westpac Group to take over the creative agency role for St George Bank, replacing Ogilvy.
However, Ogilvy will maintain it hold on sister brand Bank Of Melbourne.
A Westpac spokeswoman said the decision was based on the fact St George was now a NSW and Queensland business, while the Bank Of Melbourne was solely operational in Victoria, and both needed their own agencies.
Previous St George banks in Victoria were re-badged as the Bank Of Melbourne as part of its 2011 launch.
St.George’s CEO George Frazis said: “Saatchi & Saatchi’s strategic approach was exceptional and equally matched by their creative ideas, and the team is extremely excited to begin work with them.
Ogilvy took over the St George account in 2009 from Whybin, and oversaw the launch of the Bank Of Melbourne brand in 2011.
Saatchi and Saatchi CEO Michael Rebelo, currently in London, said it was a “great privilege” to be selected by St George and would soon be working on new campaigns to be launched later in the year.
Rebelo took the helm of the then troubled agency just over a year ago and restructured with Damian Stapleton as ECD and Jason Lonsdale as head of planning. The agency has since won Big W and Carnival cruise lines.