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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.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
