Visa appoints TBWA as creative lead

Asia Pacific - Visa has handed its global creative and strategic marketing duties to TBWA Worldwide, following a review of its incumbent agencies.

The review sees incumbent agency BBDO lose its grip on the lucrative account in Asia. Globally Visa spends around US$600 million on marketing each year.

Antonio Lucio, chief marketing officer of Visa, said the agency consolidation, which takes effect 1 January 2009, is expected to deliver creative synergies and cost efficiencies.

"As Visa has evolved into a global public company, we challenged our agency partners around the world to provide a unified approach to our marketing initiatives," Lucio said in a statement.

"This decision reflects the creative strength and innovation of TBWA Worldwide as well as their ability to deliver against Visa's unique brand vision."

Earlier this year, TBWA's sister Omnicom agency OMD, retained media buying and planning duties for Visa International after a four month review.