Egg starts a review of £16m media account

Egg, the online financial services company owned by the Prudential,

is reviewing its £16 million media account in a move which

insiders predict will see PHD lose the business.

PHD won Egg when the service launched with an £8 million

multimedia campaign in October 1998.

The review is believed to be in its early stages and will be handled by

Nick Cross, Egg's chief marketing officer, who joined the company from

Selfridges in March.

It is not known which agencies the financial services company will be

approaching about the business, or if PHD will repitch for the


A spokeswoman for Egg confirmed that a review will take place but

declined to name any shortlisted agencies. She added: "Part of any

review will be looking at what's in the market."

The lion's share of Egg's media budget, £10 million, backs the

brand's Visa card. The rest is shared between its ISA, online and

investment brands.

Earlier this year Egg announced substantial pre-tax losses, yet its

customer base, which stands at almost 1.5 million people, continues to


Creative on the business, handled by HHCL & Partners, is not under


Egg launched with spots featuring Zoe Ball and Linford Christie. A

subsequent campaign for the launch of Egg Invest, the one-stop

investment supermarket on the internet, featured Professor Stephen


PHD was unavailable for comment as Campaign went to press.