McCann Erickson is out of the pitch for HSBC's global advertising business, which it said was due to pitching for another unnamed global bank.
The firm was one of five shortlisted by HSBC, along with BBDO, Grey, Saatchi & Saatchi, and incumbent JWT.
Sources close to HSBC claimed the agency was asked to drop out because of recent changes to its management team.
It leaves McCann parent company Interpublic Group without a role in the contest, which is now between the two WPP ...