WPP’s Grey and JWT win lion’s share of giant bank HSBC’s £400m ad budget

WPP agencies Grey and JWT have been appointed ‘lead’ agencies on giant bank HSBC’s £400m global creative account while Publicis Groupe’s Saatchi & Saatchi has won its wealth management business.

The business was put up for review last year. JWT was the incumbent although the bank’s last notable advertising was from Lowe with its ‘world’s local bank’ campaign. HSBC is domiciled in the UK at the moment although it makes most of its money in the Far East.

Global head of marketing Chris Clark says: “This has been an exhaustive and thorough review, with input from our four global businesses and five regions, and we’re extremely grateful for the contributions and professionalism of all the agencies involved.

“We are confident that the working practices of our strategic partners will align to our own operating model, supporting our aim to be the world’s leading international bank.”

Back in May last year WPP bagged Bank of America’s $1.5bn account, which, in most circumstances, would be deemed a conflict with HSBC.

But that’s not the way things seem to work now in a Sorrell-dominated client universe.

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