MediaCom beats three to £16m Egg media

LONDON - Egg, the online financial services provider, has appointed MediaCom to its £16 million media planning and buying account.

The agency beat MindShare, Starcom Motive and OMD to win the

business.

The incumbent, PHD, did not repitch. MediaCom will be responsible for

planning and buying both brand and direct response communications for

the company in a deal that is claimed to be worth £20 million for

2002.

MediaCom's appointment brings the company's review of marketing

arrangements - spearheaded by Nick Cross, Egg's chief marketing officer

who joined the company from Selfridges in March - to a close. Mother was

awarded the creative account out of HHCL & Partners last month, along

with the task to launch the brand in Europe next year.

Egg's head of media, Peter Hawtin, left the company before the

conclusion of the pitch, along with Steve Hicks, the head of brand

communications. Insiders said the moves had been triggered by a wish to

cut costs and break even this quarter.

Of MediaCom's appointment, Cross said: "We are at an important stage of

our growth. We currently have a customer base of 1.8 million and are

continuing to reshape the way that consumers look at financial services

today. We have selected MediaCom to help us move our communication

strategy forward."

Nick Lawson, the joint managing director of MediaCom, added: "We're

thrilled to win such a fantastic brand against such strong competition.

Egg is leading the way in the digital economy and we're delighted to be

able to play a part in this evolution."

While the company attracted 83,000 customers in this year's third

quarter to bring it to a total of 1.8 million, the figure is down on the

same period last year, when 107,000 joined the bank.

Egg's range of financial products includes a credit card, mortgages,

loans and insurance.