Publicis is understood to be close to securing the £12m Egg advertising account without a pitch. The agency has been tipped to win the business following a global strategic alliance between Publicis Groupe and US financial services giant Citi, which completed its acquisition of Egg yesterday (Tuesday).
Citi’s global agency of record, the Publicis Groupe-owned Fallon is expected to lose the bulk of its business except in “select international markets”.
An insider says Publicis London will be tasked with above-the-line duties for Citi in the UK, which completed its acquisition of the Egg direct banking brand from Prudential. However, a Citi spokesman says it is too early to disclose agency plans for the brand. He says no decision had been made.
Fallon has been Citi’s agency of record for seven years, although the relationship was redefined last year as “Publicis powered by Fallon”. Fallon nominally holds the account in the UK, although much of the advertising has been handled by direct shop Harrison Troughton Wunderman, which is not believed to have been affected by the review at this stage.
Chief marketing and community relations officer for Citi Global Consumer Group Lisa Caputo says Publicis will manage its global corporate brand identity and Global Consumer Group advertising campaigns. Its first work is a new corporate brand identity campaign to break worldwide later this month.
Citi paid £546m in cash to Prudential for Egg, the world’s largest pure online bank. It also announced the appointment of Egg chief executive Ian Kerr to run Egg and Citi UK Consumer.
Last month Prudential confirmed chief marketing officer Alison Wright would leave the company to join Egg as its marketing chief (MW April 5).
Prudential had been reviewing its advertising arrangements with a view to consolidating the Pru and Egg accounts when it agreed to sell to Egg. The review was halted after Egg incumbent Mother had been knocked out of the running, with agencies expected to be updated this month.