Lloyds Banking Group has started a review of the media planning and buying accounts for the Lloyds TSB and HBOS brands held by ZenithOptimedia and Vizeum respectively.
Lloyds TSB Group has a media spend in the region of £41 million and HBOS £43 million.
The review began today (March 31) and will be led by Joe Clift, who was recently appointed as head of brand and customer marketing, on behalf of group marketing director Nigel Gilbert.
ZenithOptimedia and Vizeum will repitch alongside two other unnamed agencies. Pitch management consultancy will be handled via Media Sense.
Gilbert (pictured) says: “In the current environment and as we bring the LTSB and HBOS businesses together, it makes absolute sense for us to take a look at how we structure our media planning and buying relationships.
“We are intent on working with the very best across the industry, to ensure we have the best possible model consistent with our future brand and business plans”.
Lloyds Banking Group formed in January after Lloyds acquired HBOS. The group recently announced a number of senior marketing appointments following the acquisition.
In addition to Clift, the Group confirmed Catherine Kehoe will continue with Lloyds TSB as head of brand and customer marketing and Steven Griffiths will be head of brand and customer marketing for the Halifax and Bank of Scotland brands.