Standard Life is to consolidate its 10m-plus media buying business into a single agency.
The news comes just a week after the life insurer, Europe’s largest, announced it was reviewing its corporate advertising at Faulds Advertising.
Standard Life advertising manager Pam Hodge says: “It just seems the right time to look at media buying and see if we can make some economies of scale.” Faulds handles corporate media buying, and a shortlist of media agencies has been compiled for the launch of Standard Life bank.
Hodge says she will talk to the agencies already on the shortlist – Feather Brooksbank, Faulds and The Media Business Scotland – but is also taking advice from a consultancy about which other agencies she should approach.
She adds: “If we are to undergo such a major review it would be unwise to limit ourselves to Scotland.”
Hodge has also picked the creative agencies for the 3m launch of Standard Life’s telephone bank: Scottish agency The Union and Yorkshire agency JDA – formerly Judith Donovan Associates.
Initially, most of the work will be below the line, handled by JDA.
The new bank is headed by Jim Spowart – who moved earlier this year from Direct Line Financial Services, where he was managing director.