ZenithOptimedia picks up $10m Rabobank from Initiative

ZenithOptimedia has won the media account for Dutch bank Rabobank from rival media agency Initiative.

Rabobank Australia & New Zealand general manager marketing and communications Renee Amor said the move of part of a global alignment. “The decision to move media planning and buying agencies followed a comprehensive review of our requirements and was made after considerable deliberation,” said Amor.

“Initiative has done an excellent job in helping to grow both the Rabobank and RaboDirect businesses to exceed business targets consistently year-on-year for the past several years, however we felt the time was right to start looking at our advertising strategy with fresh eyes.”The win sees ZenithOptimedia pick up media planning and buying, following a recent review of the bank’s external media partners.

Rabobank has a strong focus on food and agribusiness as well as broader financial services and according Nielsen spent estimated $4.6m on main media for the 12 months to February 2014, according to Nielsen data. However, the account also includes search and sponsorship, which would likely take the value of the account be closer to $8-$10m a year