The annual Daiwa SMBC debt syndicate summer press party will stay in the memory of all who attended. But not just because of the fine wine, company and fare on offer at Sweetings, a City of London culinary institution. An unintended level of prescience led European head of fixed income at the Japanese brokerage Andrew Asbury to decide that the theme for the party would be based on reality TV programme The Apprentice. Asbury, affectionately known as Asbo in the industry, had partygoers vote for their favourite members of the Daiwa syndicate team. In keeping with the Apprentice theme, Asbo took up the role of Sir Alan Sugar/Donald Trump.
It was a surprise to all involved that two days later Asbo resigned from his position – after nearly eight years at the bank. Asbury is replaced by his former head of bond trading, Keith Meekins, who he worked with at Nomura. Meekins has big shoes to fill as Asbury is extremely well liked and regarded in the industry; it remains to be seen if he will be willing to wear a Zulu-style costume such as the one donned by his former boss briefly at the party.