| Abstract | In early 1995, Bates Hong Kong was hit by the departure of Mars (worth US$15 million in the region) in the wake of the Saatchi & Saatchi split and squabble with Maurice Saatchi. (Bates and Saatchi & Saatchi come under the holding company, the Cordiant Group). Hot on the heels of the Mars loss, Bates also saw Malaysian Airlines disappear, further eroding its billings. That was the time when Hong Kong managing director Jeffrey Yu decided to launch a restructuring. And the creatively-oriented restructuring now appears to be paying off, although the loss of Hutchison Telecommunications three months ago appears to fly in the face of this. |
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