According to Sky News, the agency that the Saatchi brothers created in 1995 has been tasked with convincing millions of British people to purchase NatWest shares later this year.
According to information obtained by Sky News, the Treasury has recruited M&C Saatchi, which was founded in 1995 by Lord Maurice Saatchi and his brother Charles, to create a campaign to support a retail offer of NatWest shares later this year.
The multimillion-pound campaign is anticipated to be approved by chancellor Jeremy Hunt following the Budget in March. It is anticipated to heavily emphasize social media in addition to television and poster commercials.
The government has also called in Barclays to work on the retail portion of the share sale, which would be among the most intricate ever attempted in British history, according to banking sources on Monday.
Barclays, M&C, and Goldman Sachs are among the government’s “privatization advisers.”
In his fall statement, Mr. Hunt stated that he intended to use a retail offer to sell a portion of the government’s residual ownership in NatWest, which was bailed out with £45.5 billion in taxpayer funds in 2008.
In recent years, the stake has been gradually decreased as a result of NatWest purchasing some of its stock back from the Treasury and providing large quantities of shares to City institutions.
The founders of M&C have now left the company, and it will now be expected to bring back the share-owning culture of the 1980s, when Baroness Thatcher ordered the privatization of several state-owned utilities.
Partly responsible for her victory in the 1979 general election was the well-known ‘Labour isn’t functioning’ ad campaign, in which Saatchi & Saatchi and the late public relations executive Lord Bell played key roles.
