The Capitalist: Reeves and Revolut get chummy at HQ party
Revolut puts on a party, CityAM pioneers the midday bash and finance bros trade blows; catch up on the latest Square Mile shenanigans in this week’s edition of The Capitalist
REVOLUT-CHELLA
A Revolut launch and Boisdale knees-up on the same day? Christmas came early this week for The Capitalist, who hopped on the DLR on Tuesday for a doublebill of Canary Wharf revelry.
First stop, the 13th floor of the YY building for the unveiling of Revolut’s shiny new global HQ, where a sea of black turtlenecks toasted the firm’s new digs. The event more resembled a mini festival – RevChella? RevoPalooza? – than an office launch, and The Capitalist is yet to see a stage and sound system in the City that even comes close to the arsenal deployed by Revolut. Fintech maverick-in-chief Nik Storonsky donned a gold chain and slightly unbuttoned black shirt for the occasion. But if that wasn’t enough to get London’s fintech bros blushing, his announcement of £3bn of investment into the UK and the creation of 1,000 new jobs certainly was.
Revolut’s signing of a ten-year lease for its London HQ comes as a relieving vote of confidence in London from the fintech chief, whose previous comments that it would “not [be] rational” to list in London no doubt came as a blow to the Chancellor. Duly, Rachel Reeves was in attendance at the launch to cheer on the fintech’s home investment, even pulling out a power suit in a shade we can only call Revolut Deep Blue. Andrew Bailey was not in attendance, though he looms over the fintech as it jumps through hoops in pursuit of a full banking licence. The Bank of England chief recently intervened to block a meeting brokered by Reeves between Revolut top brass and City regulators. Party pooper.
HAPPY BIRTHDAY US!
Across the dock to Boisdale Canary Wharf for CityAM‘s 20th birthday bash. As one top City advisor put it, “only CityAM could make a mid-week, midday bash feel like a Friday night”, as CityAM staffers swapped the newsroom for the bar (not for the first time, surely?) and mingled with bosses, columnists, advertisers, supporters, friends, PRs and sources. Editor Christian May paid tribute to his predecessors – suggesting The Telegraph’s Allister Heath “was radicalised at CityAM” and praising Andy Silvester for steering CityAM through troubled post-Covid waters. Sticking with the nautical theme he described co-founder Lawson Muncaster as “our lucky Admiral” and CEO Harry Owen as “the captain of our ship”. While the invite may have said 12 – 3, The Capitalist is pleased to report that the last guests departed around 9pm.
LOST AND FOUND
Reports that the ‘lunch’ celebrations continued long into the evening appeared to be confirmed when one CityAM reporter, who asked not to be named, revealed she’d ditched her bike near the venue and taken a taxi home over fears she was too drunk to cycle. Waking up the following morning, she’d forgotten which Canary Wharf side street she’d parked her bike on, and early search parties have proved unsuccessful. A plea to readers: if anyone happens to have spotted our journalist’s cycle parked up on a Canary Wharf street, please do get in touch.
PECKING ORDER
More than 500 City professionals traded blows last week – but for once for a good cause, with LGT Wealth Management holding its 12th annual charity dodgeball tournament. The event, which The Capitalist has reported on since its inception, has become something of a cult City occasion, drawing punters not only for the opportunity to take target at their biggest financial rivals, but also to don their best fancy dress. This year featured Deloitte power rangers, Amundi astronauts and Morgan Stanley pizza slices, but it was the worthy Buzzacott Buzzacockrels who took the best dressed prize, while FNZ FreNZy won the sports cup.
