Omnicom’s PHD wins HSBC’s global media business

HSBC Bank has given its international media business to Omnicom’s PHD, in a major blow to WPP.  Recently, HSBC appointed Publicis-owned Saatchi & Saatchi to replace WPPs JWT to go ahead with its global advertising business. WPP has lost another major client as the HSBC account has billing of around $400 million and was worth over $20 million in annual revenue to WPP.

WPP is trying its level best to be in relationship with Ford Motor. Global media giant has of late lost quite a few clients including Campbell, Marriott, Amgen, AT&T, Volkswagen among others. Mindshare held HSBC’s business for over 13 years. Another account loss comes as a big disappointment to Mindshare, where the network is still reeling from the sudden departure of WPP chief executive Sir Martin Sorrell-- while struggling to hold on to or be successful some of the estimated $10 billion worth of media business that went under review at the beginning of the year.