Although it is unlikely that Lowe would be merged with another of Interpublic Group's agency networks, there could be major repercussions at the London office, where the HSBC account was handled.
There is speculation that there could be job losses at the agency and that London chief executive Matthew Bull could leave -- although this has been rejected by Bull.
The agency is facing the review of the 拢25m global Flora account, estimated to be worth 拢6m in the UK, and late last year it lost the 拢8m Surf work to Bartle Bogle Hegarty without a pitch. BBH later picked up the global account.
Other work that has been lost includes the 拢40m global Braun account and the New York office's Verizon Wireless work, worth $140m (拢79.35m). The agency had a further stroke of bad luck this year when its UK launch campaign for Dasani was shelved after Coca-Cola withdrew supplies of the bottled water in the wake of a health scare.
Looking beyond London, it remains to be seen if there will be changes to Lowe's senior management in the US. Jerry Judge, chief executive of Lowe & Partners Worldwide, told 北京赛车pk10 magazine last month: "The only management to be shaken up is me. If I do a bad job, Interpublic will take urgent steps. But I intend to make this work."
Interpublic is already taking steps to shore up its ailing network, last week naming new-business hotshot Mark Goldstein as chief marketing officer. He joins from Fallon, where he held the same title, in June.
David Bell, chairman and chief executive of Interpublic, has already come out fighting, telling journalists that although the loss was a disappointment, "we fully expect to see Lowe back in the financial services category on the strength of its track record".
HSBC's recent advertising has been well received by the industry and officially the company had said that it was reviewing the account after five years with Lowe to improve cost effectiveness and the consistency of brand strategy, although it vowed to keep "the world's local bank" as its strapline.
However, there were rumours that US executives do not think that the strategy works in their market.
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