BMB won the business without a pitch. It will develop new campaigns for each of the company's products, which include credit cards, insurance and mortgages. The work will launch later this year across TV, press, outdoor and digital.
Virgin Money has been without a creative agency since December, when Rainey Kelly Campbell Roalfe/Y&R resigned the business in light of the Virgin bid for Northern Rock. The acquisition would have caused a conflict with RKCR/Y&R's Lloyds TSB account.
The appointment strengthens BMB's relationship with the Virgin brand. It currently handles Virgin Active, the brand's fitness chain, and works with Sir Richard Branson's space travel programme Virgin Galactic.
The agency unsuccessfully pitched for Virgin Money in June last year after a review called by its new chief executive, Jayne-Anne Gadhia, who joined from the Royal Bank of Scotland.
CHI & Partners Media won the Virgin Money media account from Manning Gottlieb OMD in February. That relationship is unaffected.
This week, BMB also won the £15 million ING Direct business after a final shoot-out against the incumbent, VCCP. Lowe London and Miles Calcraft Briginshaw Duffy were eliminated at an earlier stage.
BMB will be responsible for the brand's TV, print, press and outdoor advertising. The agency will now devise a new creative strategy scheduled to break this summer.