PricewaterhouseCoopers has decided to retain incumbent agency McCann-Erickson Europe to handle the $90m (£62m) global advertising business for its management consultancy division PwC Consulting.
The consultancy is understood to have held talks with BMP DDB, Abbott Mead Vickers.BBDO, Lowe and M&C Saatchi before reappointing McCann. The review, which began last month, was handled by the AAR (MW March 21).
The review follows last year’s rebranding of PwC’s UK consulting business to PwC Consulting. The rebranding was carried out by FutureBrand. At the same time, the consultancy arm became operationally separate from the accountancy business. In February, the company announced plans to float the consultancy arm on the US stock market.
PricewaterhouseCoopers is one of the world’s largest professional services organisations. It employs 150,000 people in 150 countries and is acting as auditor for Enron Europe following the sacking of Arthur Andersen.
Last week, the company became a sponsor of the Global Reporting Initiative’s (GRI) new secretariat, to be based in Amsterdam. The GRI is a voluntary code governing the reporting of such factors as environmental and social performance.
PricewaterhouseCoopers was formed in 1998 by the merger of Price Waterhouse and Coopers & Lybrand.