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First Direct, the online bank owned by HSBC, is reviewing its above-the-line advertising account.

The brand is working with Observatory International to find a replacement for Karmarama, which is not repitching.

±±¾©Èü³µpk10 understands that First Direct is planning to launch a brand platform in January and the winning shop will need to create work to promote this.

First Direct is holding pitches in two weeks’ time and has shortlisted AnalogFolk, R/GA London, The Brooklyn Brothers and Wunderman Thompson.

Karmarama won the account in 2017 and created work that aimed to promote the bank as a "modern, digital bank".

First Direct did not respond to ±±¾©Èü³µpk10’s request for comment at time of publication.