Speculation has been growing about Elliot's tenure following
confirmation that its former national managing director Mr Ian Smith is
returning to Bates in March.
It is believed that Smith is taking an Asia-Pacific role and will be
based in Hong Kong but will also spend much of his time with Bates'
Sydney crown jewel.
Patterson Bates had a difficult year in 2001, after the collapse of
Australian airline Ansett, which was an A$40 million account. It
also lost FAI insurance after its parent company HIH collapsed, and
Diners Club.
The losses coincide with a decision by the group's long-standing client
in North America, Hyundai Motor, to review its creative and media
assignments.
Hyundai has been a client since 1986 and is estimated to bill about
$200 million. At the same time, Bates' parent company, Cordiant,
is said to be holding talks with its bankers to review its credit
arrangements. The group is regarded as a prime takeover target by
another advertising holding company.
But Bates Asia's president Jeffrey Yu downplayed difficulties facing the
agency. "Our Asia operations continue to be strong, and one of the
reasons is that we have a combination of regional and global
clients.
To underline the point, Hyundai was an account handled by our offices in
America, but here in Asia we have General Motors, said Yu.
Meanwhile, Elliot confirmed that he had signed a three-year contract to
stay with the group, following a visit by Cordiant chief executive
Michael Bungey. But he hinted that his role may change. "I've signed the
contract to stay within Cordiant in Pattersons. It's no secret I'm
grooming (national managing director) Hamish (McLennan) to run Patts."
