AMV BBDO wins £10m Sainsbury's Bank brief

LONDON - Sainsbury's Bank has heralded its return to advertising by appointing Abbott Mead Vickers BBDO to its £10 million account.

AMV BBDO triumphed following a pitch against Chick Smith Trott. Chick Smith handled the business until June 2006, when Sainsbury's Bank decided to stop all advertising activity and ended its two-year relationship with the agency.

However, in February, Sainsbury's sold a 5 per cent stake in the company to HBOS for £21 million, which freed up £10 million of profit for investment in a new marketing strategy.

Sainsbury's Bank began trading in 1997 when it was 55 per cent owned by the supermarket and 45 per cent owned by Bank of Scotland, which became HBOS following a merger with Halifax. The bank is now a 50/50 joint venture between the two companies.

Jan Cutting, the head of national advertising for Sainsbury's Bank, said: "We are delighted to be working with AMV BBDO on this important part of our strategy to increase awareness of Sainsbury's financial services products."

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