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
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.