Fidelity Loses Faith with Hill, Holliday

18 June 2001

Fund management company Fidelity Investments has fired its main agency of over four years, Hill, Holliday, Connors, Cosmopoulos in Boston. Although the exact value of the business is undisclosed, the agency is known to have handled the bulk of Fidelity’s total $120–$150 million account.

“We have ended our relationship with Hill, Holliday based on competitive issues,” explained the client. “We’re very strict when it comes to competitive issues. We feel that we’re a significant enough player that we should warrant an exclusive relationship.”

The focus of Fidelity’s fury is reportedly Hill, Holliday’s handling of financial services firm FleetBoston Financial, which recently acquired Liberty Financial’s asset management unit.

Fidelity announced it is looking at several agencies to fill the void, including Boston’s Arnold Worldwide – the agency responsible for its interactive projects – which is strongly tipped to pick up the business.

News source: New York Times