Last week, Campaign exclusively reported that HSBC has called for a fresh global media review. We can now confirm that Mindshare is bidding to wrest back HSBC’s global media account from PHD in a straight contest between the two agencies.
The WPP-owned media agency knows the client’s business well from its 13-year hold on the account up to 2018, when its Omnicom-owned rival triumphed in the last global review.
As Campaign reported in October, HSBC is reviewing again as part of a regular evaluation of its media planning and buying arrangements. Ebiquity is understood to be assisting with the process.
Since the last review WPP has solidified its hold on the creative side of the client’s business. In 2020 a closed review saw it appointed as lead creative agency partner, with rival Saatchi & Saatchi allocated work on a project basis.
The bank’s key markets include the UK, US and Asia-Pacific.
HSBC, PHD and Mindshare all declined to comment.