The Shalmor-Avnon-Amichay ad agency has won a Citibank international advertising budget tender worth an estimated $150 million, beating out the British agency Young & Rubicam. Citibank made the announcement last week in Europe. The relationship between Shalmor-Avnon-Amichay and Citibank covers the bank’s creative operations, while management of its media planning and procurements will be handled separately. This is the first time that an Israeli ad agency participated in an international budget tender, let alone winning one.
International ad agency Young & Rubicam, which was recently acquired by the international holding company WPP for $5.5 billion, is a partner in Shalmor-Avnon-Amichay, with a 25% holding and options for an additional 24%. Based on the 2000 business results, Young & Rubicam will decide whether to exercise its option.
Shalmor-Avnon-Amichay clients include Orange (partial), Strauss (partial), Elite (partial), Isracard and others. The agency is ranked third among Israeli ad agencies, with operations estimated at $50 million. Revenues accruing to the agency from the Citibank account could make it the largest Israeli agency in terms of revenues.
Agency general manager Rami Shalmor said that the tender was for Citibank’s European strategy and advertising campaigns. Five Young & Rubicam agencies bid for the tender: Israel, London, Madrid, Milan and Paris. “Besides its surprising creative concept, what was interesting in this campaign was its application solutions for all types of media in the language of every European country,” said Shalmor.
Published by Israel's Business Arena on 19 November 2000