Financial Services
HSBC consolidates its global agency roster from 47 to 12
HSBC confirmed today that it is consolidating its global communications under a single agency roster for the first time in its 160-year history, cutting retained agencies from 47 to 12 (Source: Financial Times). The move follows two years of internal brand audits finding messaging inconsistency across 62 markets.
For a bank operating in more countries than most governments have embassies, the brand coherence problem is not cosmetic — it is operational. Every inconsistency is a compliance risk as much as a reputational one. The CMO's job here is not creative but architectural.
The lesson for any institution operating across multiple jurisdictions: a brand governance framework is not overhead. It is infrastructure. Build it before the regulators or the press do it for you.