Bankers lose their shirts
ECM bankers at an investment bank near Liverpool Street in London have added a new twist to an old English pub game.
Fuelled by rising ECM volumes and plentiful liquidity, courtesy of the Red Lion pub in Moorgate and Stella Artois beer, the team added an extra frisson to a darts match by originating a strip poker-style forfeit system.
In what is believed to be the first game of its kind from the ECM boys and girls at the bank, they decided that players could reap more fun if a stripping element were structured into the plain-vanilla darts game.
Just as a mandatory convertible sees a bond automatically convert into equity when certain conditions are met, strip darts demand the removal of an item of clothing when a player loses.
An eyewitness says that at least one banker was shirtless some time before the last bell.