HSBC group head of marketing Chris Clark is stepping down from his position amid rumors of layoffs at the company, Adweek reports.
“Chris Clark will be stepping down, but he will remain in the post until a replacement is found,” an HSBC spokesperson said.
Clark originally joined the London-based financial company, which ranks among the world’s largest, as head of brand strategy in 2001. That followed nine years spent agency-side as a group director with Saatchi & Saatchi, where he worked with clients including Toyota, Barclays and Birds Eye. He was named head of marketing and customer experience nearly six years later and promoted to his current role in December of 2010.
Clark’s decision to leave the company follows Reuters and other outlets reporting that HSBC plans to cut “dozens” of executive-level jobs following the arrival of CEO Matthew Westerman.
Clark’s impending departure raises the possibility that a creative review is in HSBC’s future. The brand currently splits advertising duties between JWT, Grey London and Saatchi & Saatchi, and Grey London’s “Lift” spot for the brand was one of the better ads we saw last year.