The Week: MEC picks up £80m Lloyds Banking Group account

Lloyds Banking Group, the financial services giant created by the merger of Lloyds TSB and HBOS, has awarded its consolidated £80 million media planning and buying account to the WPP-owned Mediaedge:cia.

The agency won the account after a head-to-head pitch against ZenithOptimedia, the incumbent on the £44 million Lloyds TSB account.

Vizeum, which was the incumbent on the £36 million HBOS account, and OMD, which also pitched for the business, were knocked out of the running in July. The review was called in March this year and was led by Joe Clift, the head of brand and customer marketing at Lloyds.

Lloyds, which is 43 per cent owned by the Government, is fighting to reduce its dependence on the taxpayer and prevent the Government buying more shares. The bank has faced much speculation in recent weeks, with reports that hundreds of Halifax branches are set to be closed by Lloyds.