A busy sporting calendar means a burgeoning expense account for many investment banks.
Marketing departments are all too aware of the cost of a three-day VIP package for your best dozen hedge fund clients for the Ryder Cup at the K Club in Ireland in September (conservative estimate: $20,000 per head). Would your favourite Swiss issuer like to watch Roger Federer at Wimbledon or Roland Garros this summer? Which Grand Prix are Ferrari most likely to win this season, so we can arrange to take our Italian clients along?
But few things get the investment banking community more competitive than a football World Cup.
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