Entertaining clients has always been part of the world of finance. But it’s no longer just about wining and dining. In an era of healthier lifestyles and tighter industry 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 often quite 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, very informal, very 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 and because of how the markets have been doing. But 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 lot of culture that you have to entertain. I think now people just want ideas, they really want to learn.
Extracurricular?