The battle of the giants has begun. The prize is huge.
JWT was put on alert last week that HSBC had called a review, which may end the eight year relationship between the two companies. Word is that HSBC may appoint a roster of creatibve agencies on the 400 million pound account.
It is believed that JWT will be challenged by WRR sibling network Grey as well as the BBDO network, which is led by Abbot Mead Vickers BBDO in the UK.
HSBC will not confirm the shortlist.
The HSBC strapline, 'the world's local bank' has already been dumped. A new global strategy is pending.
The official HSBC statement is, "This closed review, in which participation is by invitation only, is not a creative ‘beauty parade’ and HSBC is not conducting any such pitch review. HSBC will not comment on the process of the review or the participants."
WPP agency, JWT, won the creative and meida global pitch for HSBC in May 2004, using a 'team HSBC' proposition. The bank had previoulsy been with Publicis Groupe's ZenithOptimedia.
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