No more boozy lunches: 8 executives reveal how they woo clients
Due to healthier lifestyles and reduced entertainment budgets, those in the finance world prefer breakfast meetings, coffee appointments or office parties
Entertaining clients has long been part of the world of finance. It’s no longer just about wining and dining. In an era of healthier lifestyles and tighter budgets, the boundaries of where to go and what to do have shifted. The legend of the boozy dinner sealed-with-a-deal may live on, but the reality is different.
We asked bankers, fund managers and executives from Singapore, Hong Kong, Sydney, Mumbai and Tokyo to reveal their go-to places for client meetings. If you’re on a business trip in Asia these days, don’t expect a traditional dinner. You might find yourself relaxing over a healthy breakfast, bonding over a cookery class or blind-tasting wine. Here’s what our interviewees said:
Anyone for tennis?
Who?
Sean Taylor, chief investment officer for Asia-Pacific at Deutsche Asset Management, Hong Kong
Where?
I like variety. Sometimes I take them to Hong Kong Yacht Club – something different to see more of Hong Kong. If they’re outside clients, I like to take them to the south side, places like Limewood in Repulse Bay. It’s by the beach, you see a different area of Hong Kong, it’s good light food, informal and relaxed. That’s the nice thing about Hong Kong. When we have clients visiting from abroad, we want to give the best overview we can of the region. They love it.
What’s changed?
The difference over the last few years? The entertainment budgets are a lot lower because of MiFID [Markets in Financial Instruments Directive] and because of how the markets have been doing. I also think people want a different type of entertainment. It’s not so formal, they want more casual. In the old days there was a culture that you had to entertain. I think now people just want ideas. They really want to learn.
Extracurricular?