TSB looks to boost corporate clout ahead of final split from Lloyds Banking Group

New bank brand TSB is in early-stage talks with corporate and public affairs agencies as it gears up to conclude its forced separation from Lloyds next year.

TSB: facing a tough market with a hugely cynical audience, according to one agency figure
TSB: facing a tough market with a hugely cynical audience, according to one agency figure

It has not been decided whether the brief, which may include a City element due to TSB's intention to list on the stockmarket, will be handed to one agency or split.

Next year's initial public offering is expected to value the bank, which has five million customers, at around £1.5bn to £2bn.

A spokeswoman for TSB confirmed the talks, stating: "We have reached out to a number of agencies. We’re at the very early stages but the remit will cover corporate comms, also overseeing media and public affairs work."

TSB launched as a distinct bank from Lloyds this autumn after the European Commission forced Lloyds Banking Group to carve out the business as a penalty for taking a £20bn government bailout in the 2008 financial crisis.

It has already been active in the political space under head of public affairs Anthony Thompson, including taking a small exhibition stand at the Conservative Party Conference two months ago.

It is bulking up its comms team and yesterday announced the hire of Virgin’s Nigel Gilbert for the newly created role of brand, customer and comms director.

TSB has launched with the slogan "Welcome back to local banking", but one corporate PR figure warned that an incoming agency would have to work hard to differentiate the bank in a tarnished industry.

"Everyone has been tainted by what has gone before and it’s a tough market with a hugely cynical audience," they added.

"To gain trust TSB will have to back up its words by truly providing a more personal service. Comms will have to work very hard in defining what a local bank means in terms of its values and behaviour and investors will look just as hard at this as consumers."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

Hit or Miss? EasyJet backs Shakespeare Day campaign with world record attempt

Hit or Miss? EasyJet backs Shakespeare Day campaign with world record attempt

EasyJet aimed to break the world record for the highest ever theatrical performance for Shakespeare's 450th birthday yesterday with the Reduced Shakespeare Company performing on a flight from Gatwick to Verona.

Top PRs to gather in Barcelona for inaugural PRWeek Global Congress

Top PRs to gather in Barcelona for inaugural PRWeek Global Congress

Senior executives from IBM, Nestlé, Vedanta, GE, Cargill, Philips and Allianz will be among the speakers at PRWeek's first Global Congress.

Max Clifford trial jury reconvenes with majority verdicts direction

Max Clifford trial jury reconvenes with majority verdicts direction

The jury in the trial of celebrity publicist Max Clifford on 11 charges of indecent assault has reconvened after being told by the judge yesterday afternoon that he will now accept majority verdicts.

The latest social media fail case study: #myNYPD

The latest social media fail case study: #myNYPD

The New York Police Department's Twitter fail offers another social media lesson for organisations.