The Drum understands that Co-operative Financial Services has appointed WWAV Rapp Collins Edinburgh to handle its below-the-line account, following a competitive pitch.

The appointment coincides with speculation that the man who led the review, Co-op's head of brand management Kelvin Collins, has been made redundant - although this has yet to be confirmed by the organisation.

Nobody from Co-op Financial Services's marketing department was available to confirm the appointment, while WWAV Rapp Collins also refused to comment.

Although details on the other agencies involved in the pitch have not yet come to light, one of front runners for the account was believed to have been TBWA\Manchester.