BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific Arabic Spanish Russian Chinese Welsh
BBCi CATEGORIES   TV   RADIO   COMMUNICATE   WHERE I LIVE   INDEX    SEARCH 

BBC NEWS
 You are in:  Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
E-Commerce 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 


Commonwealth Games 2002

BBC Sport

BBC Weather

SERVICES 
Monday, 25 February, 2002, 13:11 GMT
Bankers 'sacked' over 44,000 meal
Chef Gordon Ramsay
Gordon Ramsay let the men eat for free
Five investment bankers who spent more than 44,000 on wine at a top London restaurant to celebrate a successful deal have left their posts.

The bill
1982 Montrachet - 1,400
1945 Petrus - 11,600
1946 Petrus - 9,400
1947 Petrus - 12,300.
1900 Chateau d'Yquem - 9,200
Water, champagne, fruit juice, 2 beers - 102
The Barclays Capital bankers' dinner, at top chef Gordon Ramsay's Petrus restaurant, hit the headlines in July and is believed to have angered some of the investment bank's customers.

The five men have left the company after being questioned by management at the bank. It is reported that the men have been sacked.

It is believed the meal was viewed as inappropriate at a time when the City was trying to present a more sober face following the end of the technology and telecoms share boom.

glass of wine
Liquid assets: Big wines cost big money
During the meal, it was reported at the time, the bankers bought a bottle of 1982 Montrachet, for 1,400, followed by three bottles of Chateau Petrus Pomerol - a 1945 vintage costing 11,600, a 1946 at 9,400 and a 1947 at 12,300.

Champagne, fruit juice, water and two beers cost a mere 102.

Impressed by the choice of wine, the restaurant - which has one Michelin star - let the men have their food for free, a 400 saving.

A sixth man at the dinner kept his job, as Barclays decided he could not be held responsible as he had only recently joined the company at the time.

A spokesman for Barclays Capital refused to comment on the matter to BBC News Online.

Restructuring

Meanwhile the bank's parent company, Barclays, is restructuring its workforce as it looks to improve efficiency by centralising its separate business divisions.

More than 1,800 office jobs have been cut, but the company's overall workforce grew by 2,400 over the last year.

The company said it intends to employ a further 2,000 people this year as Barclays Bank extends its opening hours.

 WATCH/LISTEN
 ON THIS STORY
Former Barclays' employee Justin Urquhart Stewart
"It is a matter of corporate reputation"
See also:

27 Nov 01 | England
Big spender buys record round
03 Dec 01 | Business
Barclays counts 89m cost of Enron
02 Aug 01 | Business
Profits up at Barclays
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories