TD drops McCann, begins agency search

The Toronto-Dominion Bank has split with McCann-Erickson Advertising, Toronto and is looking for a new corporate ad agency.td's advertising spending in 1993 for all divisions was $7.3 million, according to Nielsen Marketing Research.Christine Thompson, vice-president of td's financial services division, hopes...

The Toronto-Dominion Bank has split with McCann-Erickson Advertising, Toronto and is looking for a new corporate ad agency.

td’s advertising spending in 1993 for all divisions was $7.3 million, according to Nielsen Marketing Research.

Christine Thompson, vice-president of td’s financial services division, hopes to name a new agency soon.

But Thompson is not saying whether a repositioning or revamp of td’s image will be part of the assignment.

‘Situations change both in the competitive and corporate environment, and we’ve made the decision that in terms of our working relationship [with McCann-Erickson,] it was just best that we not continue to work together,’ Thompson says.

At the beginning of the year, td’s media buying was consolidated with Optimedia Canada, a division of FCB Canada, as a result of a review conducted last fall.

But Thompson says td has no intention of consolidating creative for all divisions with one agency.