NEWS: Bank of Scotland hunts for agency

The Bank of Scotland is looking for a new PR agency after its retained adviser Lowe Bell Financial was hired by Standard Life to support the controversial sale of its stake in the bank.

The Bank of Scotland is looking for a new PR agency after its retained

adviser Lowe Bell Financial was hired by Standard Life to support the

controversial sale of its stake in the bank.



The search follows a national newspaper admission from Sir Bruce

Pattullo, the bank’s governor, that its communications with analysts and

the press needed to improve.



The bank is seeking a broader spread of institutional investors, after

takeover fears greeted Standard Life’s announcement that it intended to

sell 29 per cent of its 31.5 per cent stake.



Iain Fiddes, the bank’s PR director, said an appointment was likely

later this summer. ‘We will be aiming very much at analysts as well as

the press,’ he said.



Referring to the ending of the bank’s relationship with Lowe Bell, which

was retained for ten years, Fiddes said: ‘I would not want to use the

words ‘conflict of interest’, but it was not right for us to continue to

use Lowe Bell.’



Lowe Bell Financial and Lowe Bell Political were hired in April by

Standard Life to handle communications issues arising from its planned

pounds 850 million sale of shares in the Bank of Scotland.



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