Virgin Money moots review of £20m task

Virgin Money is considering a review of its £20m advertising business, which is handled by Rainey Kelly Campbell Roalfe/Y&R, following the arrival of new chief executive Jayne Ann Gadhia. It is thought that the company is in the early stages of talking to agencies but has yet to call a formal review.

RKCR/Y&R handles the bulk of the Virgin business. It is thought the agency will be asked to repitch.

A Virgin Money spokesman says Rainey Kelly is the “agency of record at the moment” but the company has “big plans” under Gadhia.

Gadhia was previously marketing director of Virgin Direct, the life and pensions arm of Virgin launched in 1995. She was later appointed as managing director of the Virgin One Account, the innovative mortgage off-set account, moving with it to Royal Bank of Scotland when it was sold. She returned to Virgin Money last month.

At Virgin Direct, Gadhia worked closely with Johnny Hornby and Simon Clemmow at TBWA/London and she later moved the £9m advertising business for the One Account into Clemmow Hornby Inge after a two-way pitch against TBWA (MW September 18, 2003).

Gadhia is understood to be keen to “put her own stamp” on the company. Earlier this year, it revealed plans to launch a biodegradable credit card just days after Barclaycard announced plans to launch a “green” credit card.