HSBC to consolidate DM task

hsbc-logoHSBC is understood to be drawing up a shortlist of agencies as part of plans to pool its retail direct marketing account into a single agency.
A number of WPP agencies currently work on the business, including G2 Joshua, which is merging with OgilvyAction, JWT London and Dialogue 141.
The bank has used WPP agencies since the infamous 2004 global pitch, which pitted the giant networks against each other in a winner-takes-all contest.
RMG Connect took the lion’s share of the business in the UK but this was handed over to JWT when the agencies merged in July 2009.
The review is being spearheaded by HSBC’s head of brand development, Rachael Ives, who it is believed is also talking to agencies not in the WPP network.
It is understood that the First Direct account, handled by Jaywing, is unaffected by the review.
HSBC has been in the headlines for all the wrong reason recently after a former employee claimed he had obtained confidential information about private Swiss accounts which exposed “scandalous” levels of tax evasion and money-laundering at the company.
Herve Falciani is currently fighting extradition to Switzerland from Spain and faces charges of stealing information between 2006 and 2007 related to 24,000 customers with private accounts in the Swiss division.

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