Carat has picked up MasterCard's media account from UM following a global pitch.
UM CEO Mat Baxter confirmed the move meant the IPG Mediabrands unit would lose the business locally.
“It was a global decision. MasterCard has been a great client that has allowed us to do some fantastic work, stuff like the locally famous campaign, so we're sad to see them go, but all the best to them and Carat.”
Carat boss Simon Ryan said he was "absolutely over the moon to be working with MasterCard. We look forward to demonstrating our skils in the new media landscape."
The global account is worth USD$250 million. The Australian component is likely to be worth between $10 and $15 million in terms of main media.
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