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Adam & Eve, the Rainey Kelly Campbell Roalfe/Y&R breakaway, has been hired by Lloyds TSB to handle a pounds 10 million brief to promote the company's pounds 80 million sponsorship of the London 2012 Olympics.
The appointment is not thought to affect the bank's relationship with RKCR/Y&R, the incumbent on the main pounds 40 million advertising business.
WPP, the owner of RKCR/Y&R, is understood to be considering what, if any, action that it could take against the start-up on the grounds that the deal contravenes the agency's non-compete clause.
Both WPP and Adam & Eve refused to comment.
Lloyds TSB ...