Westpac and BMF Part Ways After Just One Year

Westpac has officially ended its contract with BMF, marking a significant shift in the bank's marketing approach. This decision comes just one year after BMF was appointed, highlighting the volatile nature of agency-client relationships in today's fast-paced marketing landscape.

The Announcement and Conflicting Statements

BMF initially claimed it stepped away from the account around six weeks after the conclusion of its retainer, citing a strategic decision to refocus its business amid a strong pipeline of new work. However, Westpac confirmed they were the ones to end the relationship, stating: "As part of a regular review of our agency roster and ways of working, Westpac has decided to end our partnership with BMF."

Westpac explained that this move reflects their future agency operating model and evolving requirements, which now encompass digital, marketing, and communications capabilities. The bank thanked BMF for their partnership, acknowledging their work on launching the new brand platform 'It Takes a Little Westpac' and the recent 'Double You' brand campaign.

Impact on Westpac's Marketing Evolution

This split brings a relatively short-lived partnership to a close, with BMF having been appointed during a period of significant transformation within Westpac's marketing function. Shortly after winning the account, the agency launched the brand platform 'It Takes a Little Westpac', positioning it as the foundation for the bank's future direction.

The appointment coincided with the departure of former chief marketing officer Annabel Fribence and a restructure of the bank's in-house media team that resulted in around 30 redundancies. Late last year, Westpac appointed Michelle Klein to the newly created role of chief growth and marketing officer, bringing experience from her time at IAG and Droga5 ANZ.

More recently, BMF and Westpac launched 'Double You', their first campaign under Klein's leadership, developed in collaboration with The Tuesday Club. Klein's influence is notable, as she appeared on B&T's 2026 CMO Power List.

What's Next for Westpac and BMF?

Westpac confirmed it will be engaging with existing partners on any future work, signaling a potential shift towards a more project-based model or diversified agency roster. Meanwhile, BMF emphasized its focus on delivering the greatest impact with new client wins and a strong pipeline, stating: "Given new client wins and a strong pipeline, we've now made the decision to move on."

This breakup underscores the importance of adaptability and strategic alignment in marketing partnerships, especially as companies evolve their digital and communication needs.