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NEW YORK HSBC Group has launched a global review of its advertising, media and marketing services business with an eye toward consolidating agencies and cutting costs, a client representative confirmed. The London-based company spends more than $600 million annually on all marketing efforts.
Four ad holding companies have been invited to participate: WPP, Interpublic Group, Omnicom Group and Publicis Groupe, the HSBC rep said. Each has been asked to come up with a team of agencies to pitch the business.
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