SLB adopts new marketing structure with Leith and Faulds appointment
Standard Life Bank is to establish a new creative agency structure to reflect its new position in the UK marketplace and to assist in the bank’s ambitious plans for future growth.
The new agency structure will mean delivery of key business projects, including sales channel and brand development projects handled by Faulds Advertising and the Leith Agency respectively. The two agencies replace the current incumbent, Draft Worldwide, and will work initially on a project-by-project basis.
Faulds Advertising and The Leith Agency were selected from an initial credentials list of nine agencies. That list was later narrowed down to just four, including 1576 and Family.
David Macmillan, sales and marketing director at Standard Life Bank, said: “Standard Life Bank is entering a new and exciting stage in its development. Five years ago, our launch strategy proved highly effective. We hit the ground running, with competitive savings products and one of the first fully flexible mortgages in the UK. In the last year we have moved from being a niche player in the UK mortgage market into the mainstream, with a broad spectrum of mortgage products now including house purchase, offset and Buy to Let.
“In 2002, our mortgage book grew by 30 per cent and we are well on track to achieve profitability in 2004. But we are not standing still. Our goal is to be a top-ten mortgage lender in the UK within five years.
“With this in mind, we have taken steps to review our agency requirements, bearing in mind that the selection of the right creative agencies is critical to our future success. We have decided to move from a single creative agency and put in place a new agency structure that will allow us to meet ambitious business targets.”