Old Mutual is still negotiating with its preferred bidder, Draftfcb, over its appointment of Draftfcb as its new ad agency. It will replace Ogilvy that held the account for some 22 years. Comments from Stephen Cahill, Marketing Executive at Old Mutual (South Africa):
“Old Mutual (South Africa) has not concluded the pitch process to appoint a new advertising agency. As part of this process, we have indicated to Draftfcb that they are the preferred bidder. On this basis, our discussions with them continue regarding a potential contract. We have not confirmed the advertising budget, either.”