International banking giant Standard Chartered Bank has awarded its global media duties to Carat Singapore after a multi agency pitch that lasted for past couple of months.
The appointment was confirmed this afternoon following a pitch process which began mid last year.
The incumbent, OMD, pitched for the business but did not make the final shortlist.
Carat will be in charge of media buying and planning duties. According to sources, the pitch extends globally and is being run out of Singapore as the hub.
Consulting firm R3 oversaw the pitch. In July 2016, Havas Media, UM and MEC made the shortlist.
The call for a pitch was in response to a recent initiative to streamline processes and maintain efficiency in the organisation. In June 2016, it was reported by new sources that plans for the bank to pour in approximately US$30million in Malaysia are underway.
According to a report on The Star, the money will be used to run a global technology and operation hub under wholly-owned subsidiary, Scope International.