This is work by Herb Lubalin, and as such, it was probably hand-drawn... Made specifically for that ad, which appears to be promoting his studio.

Don't know if it's closer but a good base font would have been Cheltenham Italic SC w swashes... Don't think it exists though... You could also consider Bookman SC Italic Swash(?) or LTC Caslon (for swashes)
- ITC Cheltenham Italic
- Paul D. Hunt's work
- LTC Caslon
- LET Caslon Italic w Swashes
- Adobe Caslon Pro
- ITC Bookman Swash
- Jukebox Bookman
- ITC Bookman Complete