HSBC confirms shake-up of global marketing activity

By Jennifer Whitehead,,, Thursday, 15 January 2004 09:00AM

LONDON - HSBC has confirmed it will review its global marketing communications account and has invited WPP, Interpublic Group, Publicis Groupe and Omnicom to pitch.

The bank, the second-largest financial services company in the world, is expecting to make an appointment by May. It said that the review, which was first tipped by Campaign magazine on December 5 last year, was being conducted to improve cost effectiveness and the consistency of brand strategy. It will be the first formal review in five years.

The potential loss of the account would come as a blow to Lowe, the incumbent creative agency that devised the current "The world's local bank" slogan. HSBC is one of its biggest clients, spending an estimated £60m through Lowe's global network.

Other agencies to be affected are ZenithOptimedia, owned by Publicis, and the direct marketing agency Rapier.

HSBC said it would be retaining its corporate identity and the "world's local bank" slogan, despite reports that US executives believe it does not work in their market where HSBC does not have a large presence.

The pitch is being overseen by general manager of marketing Peter Stringham, a former president and chief executive of the Omnicom-owned BBDO Canada.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.

This article was first published on


You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs