Online bank Egg is carrying out a review of PR across France
following its takeover of French internet financial firm Zebank.
Egg corporate communications head Emma Byrne has confirmed the bank will
be looking at its internal and external PR needs in France and later in
Europe as a result of the acquisition.
Prudential-owned Egg is set to put in place a PR function to support its
announced aims of attracting one million customers in France over the
next three years.
The internet bank employed a team of corporate communications
specialists from Euro RSCG for local media relations and PR surrounding
the French acquisition, with additional communications support from UK
City PR firm Financial Dynamics.
Byrne said it was too early to comment on possible pitches or details of
future briefs, but said they would be looking for a 'full service
'We have done the City announcement so now I have to look at the
consumer proposition,' she added.
Egg bought Zebank - Bernard Arnault's online financial business - for
£23m last week.
The bank also pledged to spend £100m on the expansion into France
with ambitions for the French business to break even by 2004.
With the Zebank acquisition, Egg has also opened its first high street
branch - or 'physical manifestation' - in La Samaritaine, the flagship
Paris store in Arnault's LVMH luxury goods group.
Zebank, which has 70,000 customers and 120,000 accounts, has an in-house
PR team of eight.
Egg is reported to be considering whether to keep the Zebank brand
alongside its own.
In the UK, Egg decided to scrap its roster of retained agencies in
favour of appointing external consultancies on an ad hoc basis (PRWeek,
29 June 2001).