GE hunts agency for consumer finance rebrand

GE is seeking a creative agency for its UK consumer finance division, ahead of a consumer push.

The company, best known for its store-card operations, is planning to rebrand its UK consumer finance division as GE Money early next year, following similar moves in about 40 countries.

GE Money will seek to capitalise on the growth of internet banking by offering online loans, mortgages and, eventually, current accounts.

The move is part of a global strategy to enter the business-to-consumer market.

A spokeswoman confirmed that GE was searching for marketing services agencies, but said its existing relationship with BBDO, which handles its global advertising, would be unaffected.

GE lends about £1 of every £4 borrowed on store cards in the UK. Currently, 10m UK adults hold a GE-backed card from retailers such as Top Shop, House of Fraser and Laura Ashley.

At the start of the year, GE Money launched in Ireland, backed by a EUR1m (£680,000) ad campaign, created by DMA Advertising. It included TV, radio, press and point-of-sale activity.

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