Magazine article Marketing

Abbey Transfers Pounds 33m Media into MindShare

Magazine article Marketing

Abbey Transfers Pounds 33m Media into MindShare

Article excerpt

Abbey National has moved its pounds 33m media planning and buying account out of Carat into MindShare after a whirlwind process that excluded senior Abbey National marketing personnel.

The business has been held by Carat for 16 years and includes the pounds 5m media spend on internet bank Cahoot.

Abbey has also handed Naked an initial three-month consultancy project to look at new communications channels, such as viral and local marketing, along with traditional channels.

The speed of the process, without any formal pitch, mirrors the shift of the pounds 25m creative account out of Euro RSCG Wnek Gosper into TBWA/London earlier this year (Marketing, April 10).

Similarly, the review was led by Abbey chief executive Luqman Arnold and comes as the brand repositions itself as a consumer brand focusing on personal financial services.

A brand strategy review is currently being conducted by Wolff Olins, although a mooted change of name to The Abbey appears to have been ruled out.

The decision to appoint MindShare was made after it and three other media agencies - Carat, Initiative and Manning Gottlieb OMD - were invited to 30-minute discussions chaired by Arnold two weeks ago. …

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