Sooner or later there was bound to a face-off between incumbent RKCR?Y&R and adam&eveDDB for Lloyds Bank. The A&E crew worked on the business at Y&R and, five years since James Murphy, David Golding and Ben Priest broke away, it’s finally happening, according to Campaign.
Well, true love always finds a way – which doesn’t augur too well for Y&R.
A&E already handles Halifax, owned by Lloyds Banking Group, and was recently appointed to handle a campaign to mark Lloyds’ 250th anniversary. Lloyds, along with the other big British banks, is facing a number of reviews, including a Competition Commission inquiry, which may well recommend that LBG is broken up into its components parts. Which makes the expensive, for taxpayers and shareholders, merger with Halifax in the first place look even more of a screaming disaster.
Will Y&R repitch? Looks a complete waste of time to me but Sir Martin Sorrell, boss of Y&R owner WPP, doesn’t give up quite so easily. This one could get nasty.