Newhaven loses HBOS as Lloyds TSB realigns ad account
The Drum has learned that Edinburgh agency Newhaven has lost the above-the-line advertising account for Bank of Scotland (HBOS) following its merger with Lloyds TSB last year.
It is understood that Lloyds TSB has chosen to realign its marketing strategy through Rainey Kelly Campbell Roalfe Y&R in London, and will predominantly use the same campaigns across the UK.
Newhaven has said that it will not be looking to make any redundancies in short term as it looks to continue service its other clients including Tennents, The Scottish Government and Scottish Power.
A spokesperson for Newhaven told The Drum: "'The last two years have been thoroughly enjoyable for the agency as part of the wider HBOS team. We believe that we have done a fantastic job for the Bank of Scotland brand, in unprecedented and challenging times, and today's decision, while obviously disappointing, is not totally unexpected. We will miss the people we've worked with, both in Scotland and in Halifax, but hopefully we'll work together again sometime in the future. Our departing client has been clear this is a strategic business decision post merger and their praise for Newhaven is much appreciated.'
The agency was appointed at the beginning of 2007 to manage its retail-banking advertising campaigns in Scotland.