The new operation will use the name of the advertising and brand consultancy business launched by Robert Bean ten years ago; Banc was bought by Media Square last July.
As well as advertising, the new-look Banc will offer communications specialisms, including brand strategy, PR, design, direct marketing and new media. Media Square's other companies - the PR company Le Fevre Communications, the integrated agency Equanim, and the new-media consultancy Brand New Media - are being relaunched under the Banc name.
Bean takes over as the chairman of the new operation, with a focus on clients, setting the strategic vision and helping to integrate any future purchases made by Media Square. Meanwhile, Joy Le Fevre has been appointed as the chief executive and will be responsible for the development of the company.
Bean said Banc would now work with clients to identify their core brand proposition and how it should be applied and that Banc's "perfect branding" approach would "help organisations align the way they feel about themselves with the way they behave and are perceived".
Banc now comprises 60 people in offices in London and Leeds and a client list that includes Associated Newspapers, B&Q, Hugo Boss and Powergen.