First Direct, the online bank owned by HSBC, is reviewing its above-the-line advertising account.
The brand is working with Observatory International to find a replacement for Karmarama, which is not repitching.
Campaign understands that First Direct is planning to launch a brand platform in January and the winning shop will need to create work to promote this.
First Direct is holding pitches in two weeks’ time and has shortlisted AnalogFolk, R/GA London, The Brooklyn Brothers and Wunderman Thompson.
First Direct did not respond to Campaign’s request for comment at time of publication.