Industry sources confirmed that Market Catalyst chief executive Conrad Chiu and head of creative Christine Pong attended the Hong Kong pitch for HSBC, which it has held for more than 20 years.
Jeffrey Yu, regional president of Bates Asia, refused to confirm the duo's attendance, but did say that talks with the agency were at a "mature stage of development".
"We are in the final stages of discussion," said Yu, "We believe that their talent is very applicable."
Details of the new entity's structure were unclear, and sources have questioned the role Chiu, the ex-J. Walter Thompson Hong Kong head, will assume, given his seniority and experience in both Hong Kong and China.
Said Yu: "He would be keeping a very senior role in the Bates Hong Kong organisation."
Bates Hong Kong was recently rocked by the departure of CD Iris Lo and client service director Yvonne Tang, and is also in the midst of a review by New World Mobility. "Bates Hong Kong has always been known for our creative capabilities," Yu explained. "As a result we want the top talent in the marketplace - (it's) also about management and the ability to deliver strategic creative solutions. That's why I think a management team is better than one creative."
Yu pointed out that the competitive nature of Hong Kong required such a strategy. "I like uncommon approaches - in this marketplace we need innovative ideas," he said. "I believe we could be starting a trend in Hong Kong." Yu refused to confirm whether the agency would be folded into either Bates or 141, its direct marketing arm.
Formerly with JWT, Chiu and Pong launched Market Catalyst with a handful of ex-JWT execs three years ago.