Interactive agency Organic plans to close its Toronto office this spring, citing the loss of the Bank of America account it had held since 2005 as a primary reason for the move.
Calls to Lezlie Grossman, general manager of Organic’s Toronto office, were not immediately returned, but the closure was confirmed by the network’s New York-based spokesperson Gail Scibelli.
“Due to the loss of the Bank of America account we’ve decided to close our Canadian operations later this spring,” said Scibelli. “That’s what it is.”
Valued at US$600 million when it arrived at Organic in 2005, the Bank of America account had been serviced out of the agency’s offices in Toronto, New York and San Francisco before the two companies parted ways in January.
A Bank of America spokesperson told AgencySpy at the time that the decision was the result of the financial institution’s decision to expand its relationship with its media agency Starcom, which has access to extensive digital resources through parent company Publicis Groupe’s VivaKi division.
Organic, a division of Omnicom, opened its Toronto office in 2000. It counted Procter & Gamble and Nike Canada–for which it was named digital agency of record in 2008–among its clients. Those accounts will now be serviced out of Organic’s U.S. offices said Scibelli.
It’s unclear how many people are employed by the agency.
