Capital One Names DMB&B As Integrated Communications Agency; Move Highlights Commitment to Developing Global Brand
Capital One Names DMB&B As Integrated Communications Agency; Move Highlights Commitment to Developing Global Brand
FALLS CHURCH, Va., April 19 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced the selection of D'Arcy Masius Benton & Bowles (DMB&B) as its new integrated communications agency partner. The selection was made after an exhaustive global agency search that began in late 1998. Capital One forecasts an $80-$100 million brand communications budget with DMB&B over the next 12-18 months. Capital One and DMB&B will partner on creative development, media planning and buying, interactive communications and global brand strategy. Direct marketing will continue to be handled by Capital One's in-house agency, where marketing amounted to $446 million in 1998. Richard D. Fairbank, Capital One's Chairman and Chief Executive Officer, said, "We've been very successful since our IPO in 1994, having achieved annual per share earnings growth and return on equity of more than 20 percent for four consecutive years. As Capital One evolves into a world-class marketing company, it's only natural for us to move forward by developing a winning global brand strategy." "Capital One is on an amazing growth trajectory, thanks to our Information-Based Strategy, which continues to fuel countless marketing and product innovations," said William J. McDonald, Capital One's Senior Vice President of Brand Marketing. "The addition of DMB&B's diverse strengths to our marketing team will turbo charge our already powerful business model as we expand into new markets and businesses around the world." Capital One noted DMB&B's strong network of integrated communications agencies was the key determinant in their winning the business. For Capital One, DMB&B's customized network will include: DMB&B, New York (financial services and recruiting); DMB&B St. Louis (America One Communications); MediaVest (media planning and buying); Highway One, San Francisco (affinity marketing); Clarion, Connecticut (sales promotion and direct marketing); Blue Marble, New York (internet); and DMB&B United Kingdom/I.M.P. (UK financial services). "Capital One is already a fantastic business, with enormous untapped potential to develop still further," said John Farrell, President, DMB&B North America. "Right from the beginning of our discussions there was also a shared approach to brand building and passion for leadership." Susan Giannino, DMB&B's Chief Marketing & Brand Officer, added, "Our new approach creating and sustaining leadership through brand optimization really captured Capital One's imagination. The more we got talking about this, the more we realized what a potent partnership DMB&B and Capital One could be in the marketplace." DMB&B is one of the world's largest global communications companies, and is part of the MacManus Group. It has more than 6,000 employees in 75 countries. The agency's major worldwide clients include: Proctor & Gamble, General Motors, M&M Mars, The Coca-Cola Company, Burger King, Pillsbury, TWA, Ernst & Young, Australian Tourist Commission and Phillips/Norelco. Headquartered in Falls Church, Virginia, Capital One Financial Corporation (http://www.CapitalOne.com) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One's subsidiaries collectively had 18.0 million customers and $17.4 billion in managed loans as of March 31, 1999. Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 500 Index. Capital One was recently ranked #41 in Fortune's list of "Best Companies To Work For" and #15 best performer in Business Week's rating of the S&P 500. SOURCE Capital One Financial Corporation