Naked and incumbent Zenith Optimedia are understood to be competing head on for the Lloyds TSB strategic planning account, believed to be worth &£16m.
Procurement specialists and marketers from the high street bank are in final talks with both agencies.
Lloyd TSB’s buying account is not included in the pitch and will remain with Zenith Optimedia. PHD and Manning Gottlieb were also shortlisted for the business, which covers all aspects of the banking group’s communications planning, but are no longer in the running.
Lloyds TSB head of marketing Alan Gilmore confirmed just one agency would be appointed to the account, quelling suggestions that the work would be split between Zenith Optimedia and Naked.
Lloyds TSB, the UK’s fourth-largest high street bank, signalled its intention to review its planning account by appointing the AAR to oversee a review in April (MW April 7).
It follows sweeping changes to the bank’s roster of agencies. In August, it named Modem Media as its digital advertising agency, but also appointed Tequila/ London and All Response Media to work on a project basis in the future.
The bank also handed its &£20m direct marketing business to Tullo Marshall Warren as lead strategic agency, with Partners Andrews Aldridge as the support agency, in July (MW July 14).