Abbey shifts £22m advertising business to WCRS

by Ben Carter, Marketing 23-Mar-05, 11:05

TBWA\London has suffered its second critical blow in two weeks with the loss of the £22m Abbey advertising account to WCRS.

The bank has moved its advertising business to WCRS following a three-way competitive pitch, which included Lowe. The pitch was triggered following Abbey's takeover by Spanish bank Grupo Santander.

The agency switch, which marks the end of a two-year relationship with TBWA, will also bring an end to its 'Me and my money' advertising strategy.

Abbey's decision to move its work comes just a week after TBWA's loss of the £20m News Group account, which the agency had held for the past six years.

Jeremy Davies, Abbey's brand director, said its advertising would now be more 'product-focused' in a move away from the bank's more recent brand communication work.

He denied that future marketing would be based on sales promotion or that the bank was planning to cut its advertising budget this year.

Earlier this month Abbey announced it was to rebrand, just over a year after its last overhaul, which cost £15.5m.

Davies denied Abbey had axed its last identity because it had failed, adding that Grupo Santander wanted a consistent brand across all its businesses.