Lloyds TSB marketing services director Tim Pile has resigned. He is understood to be joining the Alliance & Leicester Building Society.
According to sources inside Lloyds TSB, Pile resigned last week, after announcing the result of the media agency review.
A Lloyds spokeswoman says that Pile is on holiday, but adds that as far as she is concerned he has not resigned.
It is understood that he is going to the Alliance & Leicester as strategic marketing director to oversee the building society’s conversion to plc status next year.
Pile had applied for the position of managing director, sales and marketing services at Lloyds TSB but lost out to Dennis Holt (MW March 1).
Pile was awarded the number two position as marketing services director at the merged bank (MW April 12). Though formerly marketing services director of TSB Bank, the new position was seen as a less important role than the one he had held previously. Lloyds TSB head of brand development Mike Bulpit is a likely successor to PIle.
Pile’s exit is the second major defection of a former TSB senior executive from the combined operation. One of the directors on the Lloyds TSB retail financial services board, John Ellbourne, resigned three weeks ago.
The merger between the two banks, which happened last September, has been interpreted as a takeover by Lloyds. Other TSB executives are expected to follow Pile (MW May 24).
Pile awarded CIA Medianetwork the 23m centralised media buying account last week (MW July 26).
Lloyds TSB media buying was previously split between CIA and Lowe Howard-Spink. Both agencies pitched for the business.
Pile was suspended last year by the bank after an allegation was made by advertising manager Melanie Rhodes. He was cleared by TSB management and reinstated.
LH-S handles the creative work for Lloyds and D’Arcy Masius Benton & Bowles handles the creative work for the separate TSB brand.