The Lloyds TSB Group has invited at least three agencies to pitch for
its media business, as it prepares to centralise its pounds 20.5 million
accounts into a single agency.
The media planning and buying for Lloyds is handled at present by Lowe
Howard-Spink, which runs the bank’s advertising on a full-service basis,
while the media for TSB is handled by CIA Medianetwork.
The incumbents will pitch against at least one other agency. The Media
Centre, whose sister agency DMB&B handles the TSB’s creative business,
has been mentioned as a possible contender, but the agency denies this.
The decision to pool the media of the merged banks has been expected
since Lloyds Bank acquired the TSB in October last year.
In January the two merged their retail operations under a single
umbrella operation, which is known as Retail Financial Services.
It is understood that the pitch will be overseen by Tim Pile, who was
appointed marketing services director of the merged operation last
month. Pile was marketing director at the TSB before the merger.
Pile is responsible for the bank’s combined advertising and media spend.
Centralising the media will allow him to make a number of easy cost
savings. In February, Lloyds TSB announced 500 jobs were to go at its
combined headquarters in Bristol.
However, Lloyds’ chief manager - marketing communications, Mike Bulpitt,
refused to confirm or deny details of the pitch, the brief for which is
understood to have been handed over to agencies this week. He said: ‘I
think it is inevitable with the merger of Lloyds and TSB banks last year
that people will start this sort of speculation and it is our policy not
Both Mike Smallwood, media director at Lowes, and David Fletcher, a
director at CIA Medianetwork, declined to comment on the pitch.
However, Lowes is seen as a strong contender, having picked up the
Lloyds account in 1982, just a year after the agency was first