According to Campaign, HSBC has finally made its decision on who will handle its approximately $650 million global ad account and it’s sizable enough so that it will be not one, but three of the five agencies that were shortlisted last year (McCann dropped out in November and BBDO was the other). The financial institution has chosen incumbent JWT, Grey London and Saatchi Saatchi, with the first two taking on lead agency duties while the third will service HSBC’s premier and wealth business globally.
Regarding the five-month process to get to this point, HSBC group GM/global head of marketing Chris Clark, tells Campaign, among other things, “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.”
Check out the full story here.
Update: We’ve received a memo from sources that went out globally to staff today from JWT Europe/London CEO, Toby Hoare, who has been with the agency since 2005. Peep it after the jump.