Lowe Lintas & Partners Worldwide has won the $100m (£63m) global advertising account for the joint online venture between commercial bank HSBC and investment bank Merrill Lynch.
The online bank, which has yet to be named, was created in April as part of a $1bn (£630m) deal, in which both partners have an equal share (MW April 20). It started talking to ad agencies last month (MW June 8).
The online venture has targeted five key markets in which it will launch – first in the UK, then Australia, Canada, Germany and Japan – with Lowe’s London agency taking the lead role on the account.
Media buying will be through Initiative.
The global bank, which will be based in London, will target top earners – those who have between $100,000 (£63,000) and $500,000 (£315,000) to invest. It will offer a range of services, including unit trusts, mortgages, debit card and stockbroking.
Customers will be able to access their accounts through the Link cash machines and a dedicated network of investment centres in key locations. The bank also recently set up a 24-hour telephone service based in Leamington Spa.
Merrill Lynch HSBC chief marketing officer Victor Dodig says: “The quality of work presented to us from the shortlisted agencies has been extremely high. In Lowe Lintas we are confident we have selected the right agency to differentiate our service.”