Publicis is first casualty in $600m global HSBC review
By Staff,, brandrepublic.com, Monday, 23 February 2004 08:30AM
LONDON – HSBC has cut French ad giant Publicis Groupe from its $600m global advertising, marketing and communications review, leaving three rival holding companies in the race for the financial services giant's business.
Agencies owned by Publicis Groupe had been invited to pitch alongside those owned by Interpublic Group and Omnicom Group in New York and WPP Group in London.
HSBC spokeswoman Caroline Mooney confirmed the move to drop the French group. The bank, the second-largest financial services company in the world, said that the review was being conducted to improve cost effectiveness and the consistency of brand strategy.
It is the first formal review the firm has conducted in five years, although the bank has already said that it does not plan to drop its current corporate identity -- the "world's local bank" slogan -- despite concerns that it does not work in markets where HSBC does not have a strong presence.
The decision to retain the "world's local bank" slogan is a fillip for incumbent creative agency Lowe & Partners, which can ill afford to lose the £60m account.
With Publicis out of the race, media business held by ZenithOptimedia will now be on the move. However, its final destination will not become clear until the review is concluded in May.
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 brandrepublic.com
- Senior Account Director > ATL > TOP LONDON AGENCY collectivo £55,000 - £65,000, London
- planner > HUGE opportunity > BRAVE client collectivo Up to £60,000 + benefits, London (Greater)
- Foodie Brand Manager Ball & Hoolahan £45,000 per annum, London (Central), London (Greater)
- Digital Project Manager (senior) Corporate Communications Recruitment circa £55k, London (Central), London (Greater) / London (West), London (Greater)
- Senior Digital Consultant Corporate Communications Recruitment £70-£80k base plus bonus and package, London (Central), London (Greater) / London (West), London (Greater)
- ZenithOptimedia loses £200m O2 business to Havas Media without a pitch
- Doctor Who online game gets kids coding
- Philips launches juicer video campaign with Louis Smith
- Currys PC World launches brand campaign ahead of Christmas
- Argos releases second ad in its latest strategy
- A JWT tribute to its Oxo mum: Lynda Bellingham