Updated: HSBC Confirms Global Marketing Review

Search comes 8 years after consolidation at WPP

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HSBC, eight years after consolidating the bulk of its marketing business at JWT and other units of WPP Group, has launched a global review, the bank has confirmed.

The review includes both creative and media responsibilities and is expected to be completed by the end of March, an HSBC representative said. JWT and WPP are mounting a defense.

Helping to manage the process is Efficio, a London-based consultancy, which on its website describes itself as a "management consultancy focused entirely on procurement and supply chain optimisation." 

Key decision makers in the review include Chris Clark, the bank's group head of marketing.

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