Jumping jack bankers

The Rolling Stones will play Hong Kong during the Sevens weekend. Is this good or bad for CSFB?

In what could produce one of the most memorable Hong Kong Sevens weekends ever, the Rolling Stones will play in Hong Kong on March 28th and March 29th.

The veteran rockers have never played in Hong Kong, and banks have already been approached with VIP packages that will allow them to give their clients Satisfaction at this special event and accompanying dinner.

This could be a mixed blessing for one bank. Indeed, CSFB, which sponsors the Sevens event and has hordes of fund managers and corporates attending its pre-Sevens conference, may have a 19th nervous breakdown over the news. Having budgeted so much money to sponsor the rugby and organize the conference, it may rue the added costs it will incur if it feels obliged to buy a clutch of Stones tickets for key clients.

But if clients don't receive tickets from CSFB, they may tell the firm to give them the brown sugar or get off their cloud. CFOs and fund managers know you can't always get what you want, but CSFB will also be aware that other investment banks will behave like wild horses in their charge to get clients to spend the night together with them.

Will CSFB boss, Paul Calello have a heart of stone, or will he take a street fighting man attitude and buy up as many tickets for his clients as possible?

As his colleagues eye the bonus pool, it could be playing with fire either way. You've got to have sympathy for the poor devils in such a situation.

That dilemma aside, the chance to see the Stones on the Friday night before the Sevens truly gets underway on Saturday afternoon should ensure that this is one of the best weekends of the year.

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