First Direct is looking for a media agency to work alongside roster agency New PHD, which already works with four other banks.
It is understood the new agency would be appointed to work either on new products, or on a project basis. The appointment would also act as a warning to New PHD, whose clients include Sainsbury’s Bank, Prudential Bank, Midland Bank and Hamilton Direct Bank.
First Direct declines to comment on the story. New PHD managing partner Jonathan Durden says: “I am aware that they are looking at making the First Direct team bigger.”
However, he says any consultants brought on board would work on strategy, rather than on media buying.
Separately, the bank’s head of business development Nick Mercer quit unexpectedly last month. Mercer joined the company in January from Air Miles.