Maybank has appointed Initiative, a subsidiary of IPG Mediabrands, as it regional media agency.
Marketing has reached out to Maybank for comments.
The incumbent on the account is Zenith. Zenith has held the account for the past nine years.
The scope of work will cover five markets - Malaysia, Indonesia, Singapore, Philippines and Cambodia. The agency appointment is for three years, commencing 2017.
Earlier, Marketing reported that Maybank appointed Leo Burnett Singapore as its new creative agency of record. The appointment is the first for Maybank as it formally engages a creative agency of record in Singapore.
Recently, IPG Mediabrands also appointed Mat Baxter as the global chief executive officer, Initiative. Jim Elms, the group’s previous global chief executive officer, will remain as chairman of Initiative, as well as take on new responsibilities as managing director, Interpublic.
Kristine Ong, managing director of Initiative, said, “We are excited to be working with Maybank to catapult its 2020 strategic objectives by being fearless in our approach, brilliant in our work, dynamic by design and seamless in execution.”