Bradford & Bingley is reviewing its direct-marketing account after
almost three years.
The business, which has a budget of several million pounds, is currently
held by Claydon Heeley Jones Mason, but the former building society is
now talking to other agencies about the account.
Claydon Heeley's work included a series of mailings last year to inform
Bradford & Bingley's three million customers of its flotation. Since
then Bradford & Bingley announced its intention to rebrand its 500
high-street outlets as "The Marketplace at Bradford & Bingley" as it
launched its independent mortgage-broking services.
The reasons for the review are unclear but Bradford & Bingley has
approached at least two agencies about the account. Bradford & Bingley
has had significant changes in its marketing department recently with
the departure of advertising manager Tony James and the arrival of
marketing director Mark Howe.
In March, Bradford & Bingley announced it was to increase its focus on
direct selling as it cut back on high street presence.
It is exploring other sales routes including e-commerce. Following this
announcement it cut 300 jobs and 68 branches.
Spending on direct mail for the first few months of 2001 has been
relatively low as Bradford & Bingley focuses on rebranding. However, it
is expected to increase as new services roll-out.
Bradford & Bingley is not thought to be reviewing creative or its media
account, which is held by New PHD.
Claydon Heeley has also run direct marketing for specific Bradford &
Bingley services including its mortgage broking offering. The agency was
appointed alongside M&C Saatchi in 1998 to a pounds 20 million
A Bradford & Bingley spokesman said: "We have no plans to change any of
our agencies at the moment though this may change in the future."