HSBC reviews $522m global creative and media biz
22 October 2012
HSBC is reviewing its estimated global $522m creative and media account, which has been handled by WPP for the last eight years.
JWT London is the creative lead on the HSBC business and media is handled by Group M. The procurement led pitch is expected to conclude at the end of the first quarter of next year.
A spokesman for the bank adds: “This is a closed review, in which participation is by invitation only. This is not a creative beauty parade and HSBC is not conducting any such pitch review."
HSBC is looking at appointing a roster of creative agencies rather than consolidating its account with one agency.
Although HSBC last called for a review eight years ago, the bank will undertake this process more frequently, and according to the spokesman, “The review will be repeated every four years.”
The 2004 review involved a pitch process in which the three final holding-company contenders, WPP, Interpublic and Omnicom, had to do presentations in 12 cities, starting in Asia then moving to the US and Europe.
The bank currently uses the global tagline, ‘The world’s local bank’ which is set to be dropped.
“HSBC is to begin a review of its strategic advertising and media partners, which is expected to conclude at the end of the first quarter of 2013," said an HSBC spokesperson. "This closed review, in which participation is by invitation only, is not a creative ‘beauty parade’ and HSBC is not conducting any such pitch review. HSBC will not comment on the process of the review or the participants. The review will be repeated quadrennially.”
Devina Joshi, London