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Opinion

Lunching season

If convention becomes the rule, then the long, boozy business lunch in banking and financial markets reached outlaw status some time ago.

But now, it seems, the law has spoken – and the liquid lunch is banned by statute.

Former London-based Glencore trader Andrew Kearns recently lost a wrongful dismissal claim against the commodities firm.

He argued that going out with clients and counterparties for drinking sessions was all part of the job. Judge Richard Seymour ruled that his claim was "ludicrous".

The ruling came at an unfortunate time: in December, just as many City bankers were planning to make an exception to the rule. Somehow, long festive lunches with clients and colleagues are deemed acceptable.

At Euromoney, we’re happy to report that as a team we enjoyed a number of highly agreeable seasonal lunches and soirées with our friends in the market. An invaluable insight into the challenges facing the industry was very much part of the fare provided.

So it seems an appropriate time, as 2013 fades into the distance, to thank so many of you – readers and contacts – for the time you take to educate us about global banking and markets.

And, of course, to wish all our readers a happy and prosperous 2014.

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