Despite last week’s announcement that it had won the $10 million AXA Financial account, TBWA/Chiat/Day in New York was forced late on Thursday to backtrack on its claim.

In a terse statement, a red-faced Carl Johnson, chief operating officer of TBWA Worldwide said: “[AXA] hasn't made up their minds. It was just a premature call.” He refused to elaborate further, although a single paragraph TBWA press release revealed that AXA is still considering “multiple agencies”.

According to less taciturn insiders, TBWA is still in the race for the business and its embarrassing U-turn is due to differences with AXA over the contract small print.

AXA, meantime, was equally uncommunicative.

Data sourced from:; additional content by WARC staff