NEWS: TSB set to pool media task with Lloyds Bank

Lloyds Bank and its sister company, the TSB, are preparing to pool their media accounts in a centralisation worth around pounds 20 million.

Lloyds Bank and its sister company, the TSB, are preparing to pool their

media accounts in a centralisation worth around pounds 20 million.



The two banks have been examining their media arrangements since Lloyds

acquired the TSB in October 1995. Last month, they merged their retail

banking divisions under a single umbrella, Retail Financial Services,

which will have a combined spend of pounds 20 million.



Paul Brown, the former director of retail banking at Lloyds, has been

given board-level responsibility for advertising and marketing. Brown is

now poised to rationalise the two companies’ media arrangements.



Lloyds’ media account is currently handled by Lowe Howard-Spink, which

is also responsible for the bank’s creative business.



The TSB’s media planning and buying account is handled by CIA

Medianetwork.



The two shops are expected to be invited to pitch for the centralised

business within the next few months. The review may be thrown open to

other media companies.



The pitch will be overseen by a new director of marketing, who will work

across both brands. Brown is expected to make an appointment in the next

few weeks. The TSB’s marketing director, Tim Pile, is tipped for the

post.



Separately, the Cheltenham and Gloucester Building Society, which was

acquired by Lloyds in August last year, has been sounding out agencies

about its media account, currently handled by Zenith Media.



The building society, which is now the official mortgage arm of Lloyds

and the TSB, is thought to be considering pooling its media with them.

However, because it will continue to be run as a separate operation, it

has the flexibility to award its media business separately.



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