The HSBC Bank USA business was previously split between Lowe and Wolf Group, New York, which worked on the account since January 1999. Billings are estimated to be between $10 million and $15 million.
The decision came without a review.
Lowe, part of Lowe & Partners Worldwide, has handled HSBC Holding's global business through its London office for more than two years.
In early March, Lowe broke a new global branding campaign for HSBC Holdings introducing a new tagline, "HSBC. The world's local bank."
Ads appeared in TV, print and online, including an interactive billboard in Time Square that allows visitors to have their pictures taken digitally in the Times Square Visitors' Center.