McCann Erickson has withdrawn from the race for HSBC's £400m global advertising business, citing another global banking account as its new focus.


According to Campaign Live:

The agency was one of five shortlisted by HSBC, along with BBDO, Grey, Saatchi & Saatchi and the incumbent, JWT. It leaves McCann parent company IPG without a role in the contest, which is now between the two WPP shops, Omnicom and Publicis Groupe.

A McCann statement read: "It was a mutual agreement with HSBC that we decided to pull out of the pitch. We’re in a pitch with another global bank."

Despite speculation that the withdrawal was impacted by IPG’s replacement of McCann Worldgroup chief executive Nick Brien with Harris Diamond last week, a McCann spokesperson denied the events were related.