The competitive spirit in investment bankers at CSFB and Morgan Stanley is alive and well. But instead of the usual battle to win business from clients or trading head to head, they clashed on a non-financial field.
CSFB and Morgan Stanley have conducted the first every relay triathlon race from London to Paris in aid of charity.
The Enduro-Challenge raised CSFB’s nominated charity, Teenage Cancer Trust (TCT), £60,000 and £15,000 for Stanley’s charity Age Concern as a result of an incredible physical test that involved running the 87 miles from London to Dover, swimming 29 miles to Calais and cycling the 180 miles to Paris.
A six-person squad from each bank swapped a baton every hour on this energy-sapping journey, which took just under 48 hours to complete.
The contest was close in the first and final stages. But it was the swimming leg that sealed victory for CSFB, which managed to gain an impressive 90-minute lead on this leg.
CSFB also uncovered a particularly innovative way to raise sponsorship money and awareness of the event. In return for £200, CSFB workers were able to nominate their boss to run, swim or bike for an hour. Furthermore, this cruelty was inflicted on the managers in public: an exercise bike and treadmill were set up in the Cabot Square office foyer.
Although the idea of forcing swimmers to have a dip in the cold waters of Canary Wharf was toyed with it was deemed more appropriate to use a local swimming pool. Bosses were given the option of buying themselves out of the ordeal for £400.
Next year the Enduro event is being opened up to six teams, which could result in serious pain and indignity for managers at a number of firms if CSFB’s scheme grows popular.