Partner Article

Rock review underway

NORTHERN Rock is reportedly reviewing its £2m media planning and buying account and has approached agencies directly as it looks at marketing its new range of savings and mortgages.

MediaVest Manchester has held the Northern Rock account since 1997, when it converted from a building society to a bank.

According to Campaign magazine, the media pitch comes as Northern Rock attempts to move on from the crisis that enveloped it in 2007 and saw it become the first UK bank in 140 years to experience a run on its funds as customers rushed to withdraw savings.

Northern Rock was forced by the credit crunch and sub-prime mortgage crisis to borrow £26.9bn in emergency funding from the Bank of England, and was later taken into public ownership by the Government.

This was posted in Bdaily's Members' News section by Ruth Mitchell .