DLKW won the Halifax account in July 2000. Since then, the agency has produced its infamous "cast of characters" campaign, which saw staff members, such as Howard and the call-centre worker Thomas, adapting the lyrics of classic songs.
The pitch was called in April, as the bank decided its singing-and-dancing advertising needed to be rethought in light of the looming global credit crunch.
Since then, the pressure on Halifax and its parent company HBOS has intensified. Last week, the company announced a 72 per cent drop in pre-tax profits for the first six months of the year.
Media planning and buying, which is handled by Vizeum, is unaffected.
- Opinion, page 21.