Bankers, open your wallets

Tonight’s charity event in Hong Kong, the FABBAs, provides the perfect opportunity to ease bonus-laden consciences, while making a conspicuous display of wealth at the same time. Perfect.
Sailing Yacht Montigne
Sailing Yacht Montigne

Financial professionals have taken a lot of stick recently. Sure, they broke the global financial system and misdirected their great intellect to avoiding taxes and inflating profits, but that was mainly the shysters in New York and London.

Here in Hong Kong, the region’s solid economic growth makes it easy for market participants to earn an honest buck and we barely pay any taxes anyway – and, even then, the government still managed to earn $6 billion more than it spent last year. Life is good in Asia, so it’s right and proper that the region’s financial professionals should volunteer a chunk of their salaries to help those who are less fortunate.

Why not today? The Asia Brokers Charity is hosting its annual FABBAs at the Grand Hyatt tonight, with the usual host of embarrassing gongs being handed out to the industry’s great and the good, plus a few prizes for the other 99%.

FABBA somehow stands for Asia Bankers, Brokers and Fund Managers Awards, which leads us to believe that our friends at Thomson Reuters (co-sponsors with HSBC) are not pulling their weight on the proof-reading front.

Anyway, in the spirit of charity, Andrew Riddick from CLSA has co-opted the firm’s communications team to do some PR for the event and, in turn, we’re happy to help out. CLSA tells us that 450 people are expected tonight, with this year’s beneficiaries being Operation Smile, Crossroads International and the Aids charity Chi Heng Foundation.

More important, however, are the prizes on offer. “We have some amazing prizes, as ever, including a rather special 190ft, three-mast sailing boat for a week in the Mediterranean this summer. It is one of the largest yachts available for charter in the world,” according to Andrew.

The Montigne is indeed a special boat. Its 100sqm aft deck features two wet bars, a teppanyaki grill (naturally) and an al fresco dining area. It has six luxury suites, all with ensuite bathrooms, and accommodates up to 12 guests in great comfort. The owner’s suite is 60sqm and features a giant flatscreen TV and an adjoining spa treatment room. For entertainment, there is a diesel-engine catamaran, a ski boat, kayaks, wakeboards, waterskis, doughnuts and bananas, while a crew of 10 will look after your every need.

“There is also the unique opportunity to fly to Europe or North America to pick up a new plane with Cathay Pacific, plus a tour of Airbus or Boeing; the right to play with one of the top professional golfers in the world at the Shanghai Pro-Am in November; a dinner party for 20 at the top of the HSBC building; and, for the first time in a public auction, we are selling the right to fire Jardine’s Noonday Gun in Hong Kong,” said Andrew.

For more details or to make an absentee bid (or even a donation), please get in touch with Myles Macmahon at HSBC ([email protected]), Miles Remington at BNP Paribas ([email protected]) or Andrew at CLSA ([email protected]). Charitable tax receipts can be arranged both in the US, UK, Australia and Asia.

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