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.
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...