Centrica and Lloyds TSB hand Goldfish Life account to TBWA

TBWA/London has picked up the account for a new pounds 10 million financial joint venture between the British Gas holding company, Centrica, and Lloyds TSB that will replace Goldfish, Centrica's credit card service.

TBWA/London has picked up the account for a new pounds 10 million financial joint venture between the British Gas holding company, Centrica, and Lloyds TSB that will replace Goldfish, Centrica's credit card service.

The new internet bank will be launched under the probable name Goldfish Life, with Goldfish holding a 70 per cent stake. TBWA, which was appointed without a pitch, handles the pounds 6.8 million account for the existing Goldfish business. Manning Gottlieb Media handles media planning and buying on the original account.

Kieron Monahan, a TBWA partner, said: 'Goldfish is a brand that people like and that's key in the financial sector. Now we are taking what has been established through a credit card and introducing a bank that will be consistent with those brand values.'

The new online service will launch individual savings accounts (ISAs) next month and the offer will be stepped up to include current and savings accounts at the start of the second quarter. Customers will be able to access their accounts through ATMs and will be offered mortgages and life and term assurances later in the year.

The bank's initial launch will be backed by a press campaign. However, a much heavier spend, probably including TV, is planned for later in the year when the service's products will be finalised.

There are 1.1 million Goldfish credit card holders in the UK. However, the partnership backing the original Goldfish card, between Centrica and the financial services company HFC, is set to end in September this year.

At this point, existing credit card holders will find their accounts transferred to the Lloyds TSB joint venture.