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Absa axes ad agency

27 September 2004 Angelo Coppola

After six years the advertising relationship between Young and Rubicam Gitam and Absa has been formally ended.

The new agency is yet to be finalised and announced in a closed pitch process in November, and only due to start working in February.

There is no doubt that theR100m per annum account is a sought after and the new agency is due to be announced in November. Sponsorships and broadcast skills though seem to besome of the criteria that Absa will be looking for in their new ad agency, who will be one of five agencies.

Gitam will probably stay around until February and possibly will be exposed to any activity that the possible Barclays involvement.

Absa, and its advertising strategy, following the merger of five brands, according Gitam CEO Yossi Schwartz, is a great study and taught in most local MBA programmes.

Schwartz did mention that they had won a new client but wouldnt be drawn on who the new financial services client is.

An ABSA spokesman did say that while they under cautionary they could not comment on the proposed deal, except to say that Barclays and ABSA both understand the value of the ABSA brand, and its people.

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