NatWest Group is reviewing its UK media planning and buying account in the UK.
The review, which launched just before Christmas, puts incumbent Zenith on alert. The Publicis Groupe agency has held the account for 10 years, dating back to when it was known as ZenithOptimedia and NatWest Group was known as RBS Group (it rebranded last year).
The account is worth £26m, based on annual Nielsen billings, of which about half is spent on TV advertising for the flagship NatWest brand. It was worth £50m when ZenithOptimedia won the business in 2011.
Campaign understands that major advertising buyers in the UK were asked to submit initial proposals last week, ahead of a review process which is likely to last several months.
ID Comms is advising NatWest Group as part of the review process.
Neither Publicis Media nor NatWest Group returned a request for comment from Campaign.
NatWest Group, which rebranded from The Royal Bank of Scotland Group last year, operates the banking brands NatWest, Royal Bank of Scotland, Ulster Bank and Coutts.
The review comes less than a year after former chief marketing officer David Wheldon retired from RBS Group, shortly before the rebrand.
In July, the company subsequently appointed former Centrica marketer Margaret Jobling as CMO, although she shared Wheldon's former responsibilities with director of communications and corporate affairs Nigel Prideaux.