Euro RSCG wins £10m Abbey Net bank launch

Abbey National has extended Euro RSCG Wnek Gosper’s brief to include the &£10m advertising launch of its new Internet bank, codenamed Aquarius.

Euro RSCG, which already handles Abbey National’s &£18m retail advertising account, pitched against M&C Saatchi, Duckworth Finn Grubb Waters and Abbott Mead Vickers.BBDO. Carat, which already handles buying for Abbey National, has picked up the strategic planning for the new Internet bank.

The first ad campaign for the online bank will break in the spring, shortly before it goes live.

The bank will initially offer an online savings account and operate as a separate unit within the Abbey National group.

It is expected to add loans, current accounts and mortgages later in the year.

The final name for the bank, which will target wealthier customers than its parent, will be revealed early next year.

The new campaign will be overseen by Tim Sawyer, who was brought in as marketing and business development director (MW November 11) for Aquarius.

Sawyer was formerly head of payment systems and strategy at Abbey National.

Meanwhile, the Abbey National is launching an Abbey-branded Internet service to offer existing customers a further distribution channel. Euro RSCG will also work on that account.

Halifax and Lloyds TSB have both announced plans to set up Internet brands next year and the Co-operative Bank recently unveiled its online bank, Smile.