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Reuters has picked M&C Saatchi to advise on its transformation from

a backstage role to a household name on the global media stage following

a pitch against McKinsey & Co and Interbrand Newell & Sorrell.

The agency's task will be to define what the Reuters brand stands for

and how best to communicate it to potential customers.

The appointment follows Reuters ending its relationship with BMP DDB,

which produced a TV campaign promoting the company as a global

brand.

That was pulled in September.

Ross Barr, BMP's joint managing director, said: "Reuters has not been a

client of ours since the summer."

Moray MacLennan, the joint chief executive at M&C Saatchi, said: "I can

confirm we're talking to Reuters but I can't confirm our appointment."

The agency is expected to work with Interbrand Newell & Sorrell, the

design consultancy, on the assignment following a pitch which also

involved the management consultancy McKinsey & Co.

M&C Saatchi's appointment comes in the wake of a restructure at Reuters

aimed at saving it £150 million and initiated by Tom Glocer who

was appointed chief executive in July.

Although ranked Britain's most valuable brand, the company has stood

accused of not exploiting its position as a huge supplier of news and

financial data to 700,000 professional users.

Now Reuters executives believe the growth of the internet has opened up

the prospect of it becoming a retailer rather than just a wholesaler of

information.