Great Universal Stores acquired Homebase last year prompting a review, overseen by Billetts, of both the Argos and Homebase accounts held by MindShare and PHD respectively. MindShare was awarded the bulk of the account in July.
Although PHD lost the Homebase buying account, it fought to retain planning and, for the past ten months, it has been MindShare's only buying-only account.
Sources at PHD said they were not surprised that the planning account had moved following a series of management changes at Homebase resulting in Argos staff taking control. This had severed a relationship with the client that was established when Homebase was launched as a spin-off of PHD's existing Sainsbury's client.
The creative account held by Abbott Mead Vickers BBDO was unaffected by the review.
The loss comes as PHD unveils its new positioning, under the banner "pioneering".
Jonathan Durden, the president of PHD, said: "People should come to PHD if they want to push the envelope on how media operates. We are a different company from how we were at launch, but we are still unique in the market."
- Behind the Hype, p10.