HSBC Awards Global Media Business to Omnicom’s PHD

WPP's Mindshare had been incumbent on the account

The company spends an estimated $400 million on marketing each year. Getty Images

PHD has won the global media business of banking giant HSBC after a competitive review, according to two parties with direct knowledge of the matter. The client, which is currently Europe’s largest banking business, reportedly notified the winners and losers today.

@PatrickCoffee Patrick Coffee is a senior editor for Adweek.