Scottish Widows is reviewing its &£5m advertising account, held by Citigate Albert Frank, which has handled the business for more than 17 years.
The AAR is thought to be drawing up a list of agencies. Citigate Albert Frank has been asked to repitch, along with other undisclosed agencies. The loss of the business would deprive Citigate Albert Frank of its flagship account.
The Widow was created in 1987 and is one of the best-known financial services advertising icons. Scottish Widows says it wants to ensure its advertising remains relevant.
The review is overseen by interim customer and brand director Robert Rees, who was appointed when marketing director Peter Jordan resigned after little more than a year in the job, in order to return to university (MW July 15).
After Jordan’s resignation, the company began a marketing restructure, overseen by managing director for marketing and distribution Nathan Moss. Jordan’s responsibilities are to be spread between four marketing directors. Scottish Widows has already appointed Nick Kirwan as marketing director for protection products and Robert Wyllie as marketing director for corporate pensions.
Scottish Widows was planning to review its advertising last year, but cancelled the process when news leaked out (MW October 30, 2003).
Scottish Widows is owned by Lloyds TSB, which bought the life and pensions company in 1999 for &£7bn. Lloyds TSB chief executive Eric Daniels last year publicly mooted a sale of the business.