Lloyds Bank and its sister company, the TSB, are preparing to pool their
media accounts in a centralisation worth around pounds 20 million.
The two banks have been examining their media arrangements since Lloyds
acquired the TSB in October 1995. Last month, they merged their retail
banking divisions under a single umbrella, Retail Financial Services,
which will have a combined spend of pounds 20 million.
Paul Brown, the former director of retail banking at Lloyds, has been
given board-level responsibility for advertising and marketing. Brown is
now poised to rationalise the two companies’ media arrangements.
Lloyds’ media account is currently handled by Lowe Howard-Spink, which
is also responsible for the bank’s creative business.
The TSB’s media planning and buying account is handled by CIA
The two shops are expected to be invited to pitch for the centralised
business within the next few months. The review may be thrown open to
other media companies.
The pitch will be overseen by a new director of marketing, who will work
across both brands. Brown is expected to make an appointment in the next
few weeks. The TSB’s marketing director, Tim Pile, is tipped for the
Separately, the Cheltenham and Gloucester Building Society, which was
acquired by Lloyds in August last year, has been sounding out agencies
about its media account, currently handled by Zenith Media.
The building society, which is now the official mortgage arm of Lloyds
and the TSB, is thought to be considering pooling its media with them.
However, because it will continue to be run as a separate operation, it
has the flexibility to award its media business separately.