Two-agency part of HSBC strategy

<p>HSBC has clarified a MEDIA report (Lowe day, Bates loses HSBC AOR, </p><p>February 16), saying that Bates Worldwide's Red Hong Kong division is </p><p>still its agency, handling a significant portion of the bank's personal </p><p>financial services business. </p><p><BR><BR> </p><p>The Lowe-Lintas win on a range of accounts, including the regional </p><p>corporate business, came from the group's decision to consolidate </p><p>accounts previously held by M&C Saatchi and Euro RSCG. </p><p><BR><BR> </p><p>"We have been reducing the number of agencies we employ, and are now in </p><p>a two-agency situation in Hong Kong," said Mr Anthony Lau, HSBC senior </p><p>advertising and sponsorships manager, group public affairs </p><p>department. </p><p><BR><BR> </p><p>He said the company had been moving towards the two-agency set-up since </p><p>1999, when the then Lowe group won its global corporate rebranding </p><p>project. </p><p><BR><BR> </p><p>The Lowe-Lintas wins came about as a result of the growth in the bank's </p><p>volume and scope of business, Mr Lau said, adding that Bates' share of </p><p>the business had also grown. </p><p><BR><BR> </p><p>"Lowe-Lintas won some new business, but Bates remains one of our two </p><p>agencies; both agencies are our important partners in Hong Kong, " Mr </p><p>Lau reiterated. "We do not have a creative AOR, only a media AOR, which </p><p>is with Zenith." </p><p><BR><BR> </p>