The company has contacted roster agencies with a view to holding a pitch for the business later this month. An appointment is expected to follow soon afterwards.
The successful shop will be responsible for overseeing all of the brand’s retail work, which is currently handled by agencies on a project basis.
Barclays uses a number of agencies across its direct roster, including EHS 4D, Iris, Rapp, Soho Square and Balloon Dog.
Bartle Bogle Hegarty handles the company’s above-the-line advertising, with digital work overseen by Dare. Walker Media is the incumbent on all of Barclays’ media planning and buying business.
Barclays has worked hard in recent months to try to create a brand that appeals more readily to a younger generation of consumers.
The company recently launched a virtual reality campaign, called 56 Sage Street, which challenged gamers to improve their social status by using money sensibly.
It has also introduced "Barclays Live", a talent contest aiming to find the UK’s best dance act.
Earlier this year, Barclays launched a campaign to promote the bank’s ability to help its customers’ money go further. Created by BBH, the humorous television ads featured a voiceover from The Office writer Stephen Merchant.
Barclays is holding a review of its consumer-facing direct marketing arrangements.