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.
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