Together will work alongside incumbent Kiwibank agencies, Special (brand strategy, creative comms and consumer PR), TRA (strategy, lead insight partner) and DNA (experience and design specialists) in a new four-way collective of independent New Zealand-owned agencies.
Kiwibank general manager of brand and marketing Simon Hofmann. Photo / Supplied
“As a bank, created by Kiwi to make Kiwi better off, we want our agency model to be as ambitious, future-focused, and uniquely New Zealand as we are,” said Kiwibank marketing, brand and ecommerce GM Simon Hofmann.
“We’ve been deeply impressed by Together’s strategic clarity, digital depth, and cultural fit. Their ambition reflects our own, and we’re excited about the momentum we’ll build together.”
He said Kiwibank intended to build “a more responsive and connected model – one grounded in results and designed to unlock more speed, precision, and growth”.
“As Kiwibank continues its strong trajectory, we’re focusing on how our marketing ecosystem can play a bigger role in driving momentum. We’ve doubled in size over the past five years, and we’re aiming to do it again.”
The Government approved, in July last year, the raising of up to $500 million in capital to lift Kiwibank’s financial capability and allow it to better compete with the big four Australian-owned banks.
The bank, which started in 2002, has more than one million customers. Finance Minister Nicola Willis said last year that an additional $500m of capital could support up to $10 billion of home lending or $4b of business lending.
Hofmann said Together brought data, tools and strategic capability “to help us make sharper, faster decisions – optimising investment and evolving strategy based on real-world signals”.
“We want to see more seamless integration across brand, media, and customer communications, greater alignment across owned, earned and paid, and a deeper focus on performance that is closely linked to business outcomes.”
Rufus Chuter, Penelope Brown and Kris Hadley of Together. Photo / Supplied
Together managing partner Rufus Chuter said: “We’re thrilled to not only partner with Kiwibank – the largest New Zealand-owned bank – but also join an independent collective of New Zealand agencies.
“Aotearoa has some of the smartest, most creative and effective independent agencies in the world, and this is a true, tangible demonstration of Kiwibank’s purpose in action.”
In response to a series of questions, OMD said it was proud of its 12-year association with Kiwibank.
“Our award-winning campaigns over the years have been about more than just moving the brand forward, but making a real difference for New Zealanders, and that shared purpose has defined our partnership. Our team has loved working on this business and the impact we’ve achieved,” said OMD general manager Rachel Stewart.
OMD was a key player in Kiwibank’s brand overhaul and ‘This is Kiwi’ campaign in 2022.
Hofmann thanked OMD for its work with Kiwibank.
“We want to give a massive and genuine thank you to OMD. They have been an exceptional partner – from the all-singing and dancing Indepen-dance to the critically acclaimed Mind Over Money, the viral I Am Hope, and the Grand Effie-winning This is Kiwi, they’ve helped shape our story and our success.
“There is no questioning the commitment, creativity, and heart everyone has brought to this relationship over its many, many chapters! We move forward with absolute respect and genuine gratitude.”
OMG-IPG merger
The Kiwibank announcement comes on the eve of a seismic shift in the advertising agency landscape.
OMD is one of several major agencies owned by global holding company Omnicom (OMG) – it and another global holding company, Interpublic (IPG), have been cleared to merge.
OMD has been Kiwbank’s media planning and buying agency for 12 years, including for campaigns such as the Where’s Brutus? ad.
It means a number of New Zealand advertising agencies, including OMG’s OMD, PHD, Colenso, DDB, Clemenger, TBWA, Hearts & Science, and Dynamo, will be housed under the same umbrella as IPG agencies such as FCB and Initiative.
On paper, that merger would have meant five of New Zealand’s eight big banks would be housed under the new, ultimate global holding company.
But with Kiwibank moving to Together, and New Zealand’s biggest bank, ANZ, already announcing it is reviewing its own arrangements, banks are set to spread the love around more agencies in 2026.
In a follow-up statement, Hofmann said the merger itself did not figure in Kiwibank’s thinking.
“There is always the risk of change and disruption in any business. But like any business, our decisions are shaped by a range of factors. We weigh up all options and choose the best partner to meet the needs.
“Our decisions are guided by what delivers the best outcomes for Kiwibank and our customers. We will watch the merger with interest, given the significance it has on the industry.”
ANZ review
ANZ is continuing to review its own arrangements in New Zealand, but has put on hold, in Australia, its review of its media planning and buying agency work.
PHD, also owned by Omnicom, holds the ANZ work in both countries.
“Following a strategic review of our business and the announcement of our refreshed ANZ 2030 strategy on 13 October, ANZ has decided to pause our media agency RFI process at this time. We will provide further updates in due course,” an ANZ spokesperson told the B&T website.
B&T said it understood that ANZ decided to pause its media review process while an internal strategic review of the business took place.
However, the website reported ANZ’s New Zealand media review was ongoing.
ANZ is reviewing its media buying agency contract in New Zealand. Photo / ANZ
This was confirmed by an ANZ New Zealand spokeswoman yesterday.
“Confirming the media agency review in the New Zealand market is continuing as planned, and that PHD have been invited to take part in the process. Through this process, we will determine the approach that works best for each market.”
A senior media and marketing source told Media Insider in September about the attraction of having a bank on an agency’s books.
“With the economy the way it is, you’ve got the banks and the telcos, insurance companies and some fast-food companies who are basically the biggest advertisers and have stayed reasonably resilient,” said the source.
“So they’ve got money to spend on advertising. If you’re an advertising agency, you want one of them as an account. Most agencies try to have, as part of their blue-chip clients, at least one bank.”
‘Best in class’
Kiwibank said it would still be flexible “when the right solution requires it”.
“We’re not pretending we won’t ever work with global partners when it makes sense – but the core of our system is unapologetically Kiwi,” said Hofmann.
“It’s designed for impact, built on shared values, and laser-focused on helping make more Kiwi better off.”
Kiwibank is New Zealand’s fifth largest bank.
Kiwibank said its new collective of agencies represented the “very best of modern, independent, and future-ready thinking – built to accelerate momentum and unlock smarter outcomes”.
“An all-New Zealand agency model not only means supporting local, but being backed by expert partners that live, breathe and understand the local market.”
Together would bring a modern, data-rich media model that integrated owned, earned, and paid media under one system – “unlocking advanced digital planning and some of the country’s leading AI and data science thinkers to supercharge Kiwibank’s customer growth”.
The agency model was complemented by Kiwibank’s internal studio, The Green House.
“All of our partners are independent – fast, modern, and responsive to the changing pace of the market. But more than that, they’re among the most effective and awarded agencies in New Zealand and the region. It’s thoughtfully designed and best-in-class,” said Hofmann.
Editor-at-Large Shayne Currie is one of NZ’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME including Managing Editor, NZ Herald Editor and Herald on Sunday Editor and has a small shareholding in NZME.