Gideon Spanier
May 22, 2018

PHD to scoop HSBC's $400m global media account

PHD is poised to win HSBC's estimated $400m (£298m) global media planning and buying account from incumbent, Mindshare.

PHD to scoop HSBC's $400m global media account

Omnicom's PHD is poised to win HSBC's estimated $400m (£298m) global media planning and buying account.

Mindshare has held HSBC for 13 years, having successfully defended the account most recently in 2013, and the loss would be a blow to parent company WPP, which is searching for a chief executive to replace Sir Martin Sorrell.

PHD is said to have beaten Mindshare and Dentsu Aegis Network in a three-way contest.

Industry sources said agency groups have been told about the outcome of the review. ID Comms advised on the pitch.

None of the groups would comment and referred inquiries to HSBC.

A spokesman for HSBC did not immediately comment.

HSBC's key markets include the UK, US, China and the Middle East.

HSBC previously announced the review in January when it said: "As part of our commitment to the ongoing development of HSBC’s media and marketing arrangements, we periodically evaluate all marketing service suppliers to ensure we maintain the best working relationships to support our strategic goals."

The bank appointed former senior Mondelez International executive Leanne Cutts as group head of marketing last year.

HSBC began the review several months before Sorrell quit as chief executive on 14 April.

WPP has had a close relationship with HSBC, which uses J Walter Thompson for creative duties as well as Publicis Groupe's Saatchi & Saatchi.

Source:
Campaign UK
Tags

Related Articles

Just Published

4 hours ago

Kraft Heinz CMO: Ecommerce 'a hit to profitability'

As ecommerce retailers undercut each other with discounts, brands' profit margins are becoming squeezed.

4 hours ago

The often-hidden costs of in-house agencies

The founder and CEO of marketing consultancy TrinityP3 uses a side-by-side comparison to dig into the costs you might not have considered.

5 hours ago

Ice cream anime: Magnum tells 'pleasure tales'

The Unilever ice cream brand debuted two lovely little animated films at Sydney's Japanese Film Festival.

7 hours ago

Is the whole greater than the sum of its parts for ...

AGENCY REPORT CARD: As Zenith, Starcom and Spark Foundry meld together under the group's 'Power of one' philosophy, we grade them as one entity for the first time.