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HSBC has shifted its $400M global media account to Omnicom's PHD from WPP's Mindshare unit following a competitive review, according to AdWeek.
The loss of the prestigious account serves as a blow to the No. 1 ad/PR conglom, which is trying to regain its footing following last month's "extraction" of founder Martin Sorrell from the helm.
Sorrell, who is plotting a return to the communications scene, reportedly had close ties with HSBC executives.
Europe's largest banking operation launched the review, which was handled by ID Comms, in January.
Japan's Dentsu also bid on the business.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
