- Rainey Kelly Campbell Roalfe has prised the £10 million ($16 million) Virgin Direct account out of TBWA GGT Simons Palmer after a head to head creative pitch between the two agencies.
Virgin Direct appointed Rainey Kelly to overhaul its brand strategy in August and last week both agencies presented creative work to match the new brief.
Steve Taylor, the group brand director of Virgin Direct, said: "The creative work is not the point. Both agencies are capable of excellent creative work but the trick is not in the execution, it's in getting your head round what to say and how to say it. Rainey Kelly's idea has legs and I felt they had a better grasp of what we are trying to achieve."
Rainey Kelly will handle the brand and the core account for PEPs, deposits, pensions and life insurance. TBWA retains the £5 million advertising account for Virgin One, the banking arm of Virgin Direct.
MT Rainey, a partner at Rainey Kelly, said: "Virgin Direct is far and away the most dynamic company in the financial services industry, but there are a lot of sleeping giants waking up in the sector and we believe there's both a need and a real opportunity for the brand to go further, faster."
Virgin began a review of its relationship with TBWA after the agency, which was the incumbent on Virgin Direct, won the £50 million NatWest account in June.
Media on all Virgin's financial business is handled by Manning Gottlieb Media.