Despite investment banks’ profits being under pressure, with share prices on the slide, bonuses and jobs being slashed and a general state of panic and insecurity throughout the industry, all the major banks will still be shelling out for a box or suite at this month’s CSFB-sponsored Hong Kong Rugby Sevens.
Many of the global banks have signed up to HK$1.2 million (US$154,000) three-year contracts for air-conditioned glass-fronted suites. Others are paying US$20,000 for smaller areas for the weekend.
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