Morgan Stanley caption competition

We are pleased to announce the winner of last week''s caption competition.

We today announce the winner of our most recent caption competition, which featured a photograph of Morgan Stanley managing directors singing Xmas carols in Hong Kong's Landmark shopping mall to raise funds for charity.

Contrary to expectations the entries were not of the highest standard, with some proving too cryptic or too insulting to merit printing. We have selected UBS's Mark Leahy as the winner. His winning entry was: "Please put your donation in the hat marked BONUS." A bottle of Veuve is on the way.