HSBC has selected WPP as its lead agency group partner for global creative duties. According to HSBC, the new approach will help the bank manage its "one bank" approach, as well as give markets access to the right skills and capabilities for specific business challenges.
"We will continue to work with Publicis Groupe on a project-by-project basis," HSBC said. The bank added that the review was conduct to ensure it had the right agency set-up to support its strategic goals and continue to build its brand. "The dedicated project team has taken a robust and transparent approach throughout this process," the bank said.
Prior to this, Saatchi & Saatchi was the lead agency on its global creative account since 2017. Following the appointment three years ago, HSBC said WPP remains a key partner for the bank globally and that it did not move any creative assignments from WPP's agencies. Before 2017, HSBC's global creative duties were split between J. Walter Thompson and Saatchi & Saatchi.
Separately in 2018, the bank selected PHD to handle its media account estimated to worth approximately US$400 million. Former incumbent Mindshare and Dentsu Aegis Network were also vying for the account.