No World Cup Field Trip For RBS, Clients

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RBS CEO Stephen Hester recently stated that rebuilding an investment bank from a pile of rubble is a nearly impossible task but if anyone can to it, it's him. He's got a plan, a five-year plan in fact, for doing so and you know what that plan doesn't involve? Sending any of his employees or clients out to enjoy a little football and maybe some drinks. Between you and me, it's not something Steve-o wants to do but apparently buying a few mill in tickets what with the whole assholeway being ownedway by the axpayertay wouldn't look good, according to one killjoy (“If a bank was buying $6 million to $10 million (of hospitality) for an event before 2007, and they get state support today, they can’t come to the World Cup and get tickets,” Peter Csanadi said in an interview. “They just can’t do it.”) But turn those frowns upside down because guess what? The World Cup is coming to RBS!

Royal Bank of Scotland Group Plc will convert an atrium at its office into a soccer field with giant screens to entertain bankers and clients during the World Cup. RBS will invite as many as 3 000 investment banking clients to its London office to watch the matches according to an e-mail to employees. The 32-team tournament starts on June 11 when host South Africa meets Mexico.

"To help you join in the festivities and feel part of this sporting celebration, we would like to invite you to enjoy screenings of selected matches in our purpose built ‘stadium' at 250 Bishopsgate" the lender said in the internal e-mail. "With a canopy covering the space, an indoor pitch and giant screens it promises to be a great venue to watch the games."

RBS to build own World Cup stadium for bankers, clients [MW]
RBS, Nationwide Shun World Cup, Hurting Hospitality Providers [Bloomberg]

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