Simon English: Schmoozing in the City has not gone away
Friday 02 March 2012
Outlook The City is doing its entertaining in secret lately. In the old days, before 2007, being flash in public was definitely part of the fun. Why not? Everything was going swimmingly and the City was the heart of everyone's success. It had said this so often that people believed it.
Lately, with public hatred of financiers at all-time highs, a different ethos has taken hold. Memos have been written, the core message of which can be drummed down to this: don't get smashed in public. If you insist on embarrassing yourself with lap-dancers, don't get caught.
Last summer traders at Icap were told that The Box, an expensive burlesque club in Soho, was now on the "excluded list".
But entertaining clients remains as big a part of how business gets done in the City as ever, perhaps more so now that there is less trade to go around.
So there's been a boom in private dining in posh hotels. To get a private room in, say, the Dorchester, I'm told, you need to book about four months ahead. Morgan Stanley have got it every night till then (note to Morgan's lawyers and Dorchester PR people: I'm clearly exaggerating, put the phone down).
Morgan doubtless has a fine chef and a decent wine cellar, but if you entertain in-house, the boss gets to see exactly who you were schmoozing and just how much they put away. If you're off-campus, you might get away with just giving him a bill for the final amount, and bad behaviour will not be reported back.
It may not be an appealing sight, but perhaps the truest sign that the economy is turning will be when traders think it is again acceptable to act out in public places.
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 The secret report that helps Israelis to hide facts
- 3 Danish TV reporter is all business up top, all party down below
- 4 Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
- 5 Businessman charged £75 for three small bottles of water in London hotel
Danish TV reporter is all business up top, all party down below
Israel-Gaza conflict: President Obama presses Netanyahu to call ‘immediate and unconditional’ Gaza ceasefire
Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
Zayn Malik on Israel-Gaza: One Direction singer bombarded with Twitter death threats after posting #FreePalestine
MH17 crash: Black boxes show plane suffered 'massive explosive decompression' following shrapnel hit
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...