Credit card giant Visa USA has ditched its 20-year partnership with advertising agency BBDO.
The creative account, worth around $335 million (€287m; £193m) will move to California-headquartered TBWA/Chiat/Day, BBDO's stable mate at the world's biggest ad agency group, Omnicom.
BBDO, based in New York, took part in a three-way review of the business with San Francisco-based Goodby, Silverstein & Partners, which resigned the $80m Discover Card account earlier this month in anticipation of the Visa work.
The credit card titan says the review was driven in part by the need for creative ideas that could be implemented across different media. Says chief marketing officer Susanne Lyons: "It's not about just TV advertising anymore."
BBDO is putting on a brave face: "We're disappointed. But it's still been a record-setting year. And however disappointing it may be, this won't set us back from the path we're on . . . to be the best agency in the country."
While a gleeful Rob Schwartz, executive creative director at TBWA\Chiat\Day: comments: "It's a brilliant win, as we're up against tough competition, and it brought out the best in our agency."
Data sourced from Adweek (USA); additional content by WARC staff