Young & Rubicam Advertising’s New York office has been handed a research project by mutual funds colossus The Vanguard Group.
Details of the project are sketchy. Neither its nature nor the billings involved have been disclosed. All that Vanguard’s principal Brian Mattes would concede was that it would last several months, adding cryptically: “We need to await the outcome of the research before we decide what our next move is”.
However, it is thought that the project might be linked to rumors of Vanguard’s plans for a $40-$50 million brand advertising campaign.
Mattes also added that the selection of Y&R followed a hunt involving a handful of agencies, including the company’s main shop SFGT in Manayunk, Pennsylvania.
News source: New York Times