Masius scoops spread-betting business

Masius has been appointed to handle the &£3m integrated advertising account for spread-betting company City Index.

The Publicis Groupe-owned financial services specialist pitched against three unnamed agencies to win the business, which was previously held by The Gate. It is not known whether the incumbent repitched.

City Index head of marketing Stuart Rice says a campaign is already being developed and will break in the autumn.

City Index, which is owned by City entrepreneur Michael Spencer, is understood to be the frontrunner in the race to buy spread-betting and for-eign exchange rival IFX Group. If the deal goes through, it would almost double company turnover to &£60m.

In April, City Index revealed it had made an approach to IFX when shares were trading at less than 125p. It has since made an offer of 180p-a-share, which has been accepted in principle.

Masius was recently appointed to handle the &£3m advertising account for AXA Investment Managers following a four-way pitch. The agency will handle the integrated work for the company’s institutional division, as well as its retail fund management brand, AXA Framlington.

Masius executive creative director Ian Henderson was appointed to run the agency in May after founder and chief executive Andrew Porter moved to a consultancy role.