Lowe day, Bates loses HSBC AOR

<p>Lowe Lintas & Partners is systematically dismantling Bates </p><p>Worldwide's grip on the global HSBC account, luring away the bank's </p><p>product services business from the network's Red Hong Kong division. </p><p><BR><BR> </p><p>The win, which threatens Bates' 40-year relationship with the banking </p><p>giant, effectively splits HSBC's product services business between the </p><p>two agencies. </p><p><BR><BR> </p><p>As well as HSBC's global branding campaign, Lowe Lintas will now handle </p><p>premier services, e-initiatives, consumer assets and investment products </p><p>in addition to HSBC's IBM division. </p><p><BR><BR> </p><p>Lowe Lintas will also serve as the bank's agency of record on regional </p><p>corporate projects and payment and cash management services, bringing in </p><p>more than HKdollars 100 million (about USdollars 12.8 million) in </p><p>capitalised billings. </p><p><BR><BR> </p><p>Lowe Lintas managing director Stephen Li said the agency was working </p><p>towards winning other HSBC regional accounts. </p><p><BR><BR> </p><p>"This is part of HSBC's global alignment since the bank changed its name </p><p>in March 1999. HSBC has been looking for a global agency of record, and </p><p>rather than (put the account to pitch), it gave us two test projects </p><p>allowing it to compare us with Bates," he said. </p><p><BR><BR> </p><p>One project involved a campaign for its personal installment loan </p><p>service. </p><p><BR><BR> </p><p>"The bank had not advertised this service for a year and when the </p><p>campaign was launched, HSBC met its business target for the entire year </p><p>within the first eight days of the launch," Mr Li said. </p><p><BR><BR> </p><p>He added the bank had based its decision to divide the business between </p><p>the agencies based on Lowe Lintas' performance and ability to "truly </p><p>understand the bank's business". </p><p><BR><BR> </p><p>However, Bates CEO Jeffrey Yu said the move to use two agencies "had </p><p>been HSBC's plan right from the start". </p><p><BR><BR> </p><p>"The bank has always had a policy of using two agencies so there is no </p><p>element of surprise ... It is based on HSBC's global expansion," Mr Yu </p><p>insisted. </p><p><BR><BR> </p><p>With the win, Lowe Lintas will take on an extra 25 staff and office </p><p>space. </p><p><BR><BR> </p><p>"This is a crucial time for us to prove ourselves and I think we are </p><p>ready to challenge the big boys," Mr Li added. </p><p><BR><BR> </p><p>A year after Lowe and Ammirati Puris Lintas merged to form Lowe Lintas, </p><p>the network took home Campaign's Agency of the Year award for 2000 in </p><p>the UK and Europe. </p><p><BR><BR> </p>