Financial services brand Capital One has appointed Fold7 as its UK lead creative agency, ending its two-and-a-half-year relationship with Mother.
Fold7 has entered into a three-year contract as Capital One looks to give greater meaning to its brand purpose with a shift to building a wider story. The initial work on the new campaign is expected to launch early next year.
The win follows a competitive four-way pitch that closed last week, which included Mother.
Mother won the account in 2018 after a four-way pitch involving Karmarama, Wieden & Kennedy and previous incumbent WCRS.
Andrew Clayton, head of brand at Capital One, said: "Running a pitch in a global pandemic was never going to be a straightforward affair, and it was really important to us to find an agency that aligned closely to our values and challenged our thinking; bringing imagination, warmth and an innovative approach. We're excited to partner with Fold7 to bring a meaningful and differentiated campaign to market in 2022."
James Joice, managing director of Fold7, added: "Capital One is a highly progressive and customer-focused company that matches our entrepreneurial creative spirit. We feel privileged to be appointed to evolve its brand purpose to build consumer trust."
In October 2020 Capital One released the spot "That's credit done right" by Mother. The ad featured a woman on a bike ride that, regardless of the minor inconveniences, ends up as the perfect journey.