Zenith Media - which handles the media brief of Hang Seng's parent HSBC
- snared the media buying business. Estimated to be worth more than
HK$100 million (about US$13m) annually, Hang Seng was
previously serviced by WPP's JWT and MindShare. However, when Standard
Chartered Bank realigned its global brief with the two WPP agencies,
away from FCB and Leo Burnett, client conflict issues arose.
WPP set up a second-tier agency and took elaborate steps to ensure
Conquest was totally segregated from JWT - the new agency operated in
its own office space with processes and systems audited by an
independent third party to ensure protection of intellectual property
rights - but senior Hang Seng executives remained nervous, sources
said.
"Competitive pressures in the banking industry is at an unprecedented high,
said one source. Hang Seng's review focused on major aspects of marketing communication: strategic, creative and media.
FCB Greater China chairman and chief executive, Gary Tse, said new campaigns would be launched within the next two months.
