Magazine article Marketing

Lloyds TSB Axes United Ads Plan

Magazine article Marketing

Lloyds TSB Axes United Ads Plan

Article excerpt

Lloyds TSB has abandoned plans to adopt a single marketing strategy for the relaunch of the merged bank, which is set to take place next year.

After a protracted and controversial pitch, the bank has decided to divide its [pounds]16m advertising account between its incumbent agencies, Saatchi & Saatchi and DMB&B, rather than consolidate into a single shop.

According to well-placed sources, the bank has awarded Saatchi & Saatchi the 'superbrand' building business, leaving DMB&B to concentrate on product-oriented campaigns.

Saatchi & Saatchi is expected to retain its hold on Lloyds' mortgage business, under the Cheltenham & Gloucester brand.

The decision follows a six-month review of the banks' advertising intended to leave it with one agency covering all above-the-line work.

The review prompted Lowe Howard-Spink to end its 15-year relationship with Lloyds before the pitch for the business in August.

LHS's resignation is believed to have prompted questions at board level about the agency review, which was conducted by the bank's head of marketing, Ford Ennals, and marketing consultant, Chris Moss. …

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