HSBC has clarified JWT’s position on its advertising roster after it had rubber stamped a story earlier in the week that claimed it replaced the agency with Saatchi & Saatchi.
The u-turn comes after the bank had signed off a statement earlier this week claiming that Saatchi & Saatchi would assume lead creative responsibilities. However, what the agency has actually been tasked to do is develop what HSBC calls a “strategy-only brief”.
In a statement, HSBC said: "JWT remain valued partners on our global roster of agencies, leading our efforts in retail banking across key regions and geographies. In addition, WPP remain a key partner for HSBC globally. HSBC has not moved any creative assignments from their current agencies.”
JWT is currently working on two of the bank’s sponsorship properties in the UK, British Cycling and the Wimbledon AELTC tennis championships.