HSBC appointed Saatchi & Saatchi as its global lead creative agency following a review, Adweek reports.
HSBC formerly split its advertising between Saatchi & Saatchi, J. Walter Thompson and Grey London, who crafted the memorable 2015 “Lift” spot. JWT and Grey London shared lead duties prior to the review, with Saatchi handling HSBC’s global premier and wealth business account. The creative review followed the departure of HSBC group head of marketing Chris Clark last June. According to More About Advertising, the global account is worth around $400 million, down from $650 million in 2013.
Much of the company’s advertising runs overseas. According to Kantar Media, the client spent approximately $42 million on U.S. measured media in 2015 and $25 million during the first 9 months of 2016.
The account win follows Saatchi & Saatchi naming Saatchi & Saatchi London CEO Magnus Djaba as its first global president around two weeks ago, as global CEO Robert Senior prepares to step down.
“HSBC is at the forefront of change in the fast moving financial services sector and we are delighted and proud to have been chosen to help them deliver that message to global consumers,” Djaba said in a statement.
Saatchi & Saatchi served as lead in the review and is expected to roll out a new brand positioning campaign for HSBC. Adweek notes that Publicis Groupe credits its “Power of One” positioning with securing the win, with Saatchi & Saatchi receiving help from fellow Publicis agencies DigitasLBi and MSL Group.