As always, the bank boxes at the Hong Kong Rugby Sevens this year reflected conditions in the industry or that’s how we justify writing this annual column, anyway.
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In boom years, lavish boxes rival Rio’s carnival, while during the downturns they resemble dorm parties. This year, they told a mixed tale. The only decor in the RBS box was a few advertising posters and the employees didn’t even wear RBS shirts although at least one was seen wearing the RBS tartan. As its spokeswoman said “We have to keep a low profile.” The boxes at Goldman Sachs...