High street bank Barclays is understood to be conducting a procurement-led review of its £70m media planning and buying business, in a move that is expected to put Walker Media on alert.
Sources close to the bank suggest that although no formal review of the account has been called, the bank is considering calling a pitch and is understood to believe it can get better value from its media spend. Separately, there is understood to be a media planning and buying brief out for a Barclays project covering Europe, Middle East and Africa region but not affecting the UK.
A Barclays spokeswoman refused to confirm the reviews, stating: “We do not comment on speculation.”
The move is thought to have been prompted by the promotion of Barclaycard chief marketing officer Libby Chambers to chief marketing officer for Barclays Global Retail and Commercial Banking in May.
Her role, which also covers the UK, follows a series of changes at the bank following the departure of marketing director Jim Hytner last year (MW August 16).
She controls a marketing budget of £350m and reports to Barclays Global Retail and Commercial Banking executive committee headed by Frits Seegers.
Hytner appointed Walker Media to the UK account following a final two-way pitch against Phd in March 2006.