CINCINNATI, Aug. 8, 2011 /PRNewswire/ -- Fifth Third Bancorp (NASDAQ: FITB) today announced that it has signed a letter of intent with Chicago-based Leo Burnett to handle its advertising, digital and marketing communications services. Terms of the contract were not disclosed.
"We are excited to work with Leo Burnett, a highly strategic and accomplished partner with deep experience working with clients facing unprecedented change in technology and customer preferences," said Larry Magnesen, senior vice president and chief marketing officer of Fifth Third Bancorp. "They have a proven track record of developing breakthrough communication strategies to articulate clear value and differentiation, and most important, to engage the customer."
Magnesen shared that Leo Burnett has won numerous awards for its creative work in America and across the globe. Most recently, Leo Burnett Chicago won multiple recognitions at the Cannes Lions Festival of Creativity for the popular "Mayhem" campaign on behalf of Allstate.
"The Bank has undergone an intensive strategic exercise to ensure we are well-positioned for the future," said Magnesen, "And the time was right to initiate this relationship." He explained that Leo Burnett has the ability to build the brand across the entire Fifth Third footprint while finding unique ways to leverage the local capabilities of the Bank.
"Partnering with Fifth Third provides an amazing opportunity to apply our creativity and leverage something we are really good at – developing big ideas across the entire marketing landscape," said Rich Stoddart, president of Leo Burnett North America. "Fifth Third has big ambitions to be a truly differentiated brand, and we are thrilled to be chosen to help them reach that potential."
Assisting in the review process and negotiations was the Atlanta-based Bedford Group.
Leo Burnett Worldwide (www.leoburnett.com) is one of the world's largest agency networks and the parent company of Leo Burnett and its marketing services are, Arc Worldwide. Leo Burnett, a HumanKind communications company, has a simple and singular approach: put a brand's purpose at the center of communications to truly connect with people. Leo Burnett, one of the most awarded creative communications companies in the world, creates "Acts, not just Ads," for some of the world's most valuable brands including The Coca-Cola Company, Kellogg's, McDonald's, Hallmark, P&G, Allstate and Nintendo.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $111 billion in assets and operates 15 affiliates with 1,314 full-service Banking Centers, including 103 Bank Mart® locations open seven days a week inside select grocery stores and 2,432 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2011, had $276 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB."
SOURCE Leo Burnett Worldwide