PHD has scored HSBC’s $528m global media account after a competitive pitch process.
The account has been held by Mindshare for 13 years.
PHD won the account having beaten Mindshare and Dentsu Aegis Network in a three-way pitch.
HSBC group head of marketing Leanne Cutts said, “As part of our commitment to the ongoing development of HSBC’s media and marketing arrangements, we periodically evaluate all marketing service suppliers to ensure we maintain the best working relationships to support our strategic goals.
“We have selected PHD as our preferred media planning and buying supplier as they demonstrated strong strategic skills and advanced digital transformation capabilities.
“In a complex media and communications marketplace, PHD’s overall approach stood out as being forward-thinking, yet straightforward and pragmatic.”
Mindshare Australia confirmed that following a global review by HSBC it will no longer be working on the HSBC business in this market.
Katie Rigg-Smith, CEO Mindshare Australia said, “Mindshare Australia and HSBC have enjoyed a wonderful 13-year partnership and together have produced some outstanding work which both companies are immensely proud of.
“While we are naturally very disappointed to no longer be working with the local team, we part as friends and strong business partners and wish their team all the very best for the future.”
Mindshare will work closely with HSBC’s team throughout the transition period.