Last week, Deutsche Bank spent almost $2 million to take “over a five-star golfing hotel in Hertfordshire for 48 hours” according to the Daily Mail, via Here is the City, for a 2-day event for its wealthiest banking and hedge fund clients.The bank brought Janet Jackson in to perform a 45-minute set for the clients, who had reportedly flown in from all around the world for the event.
Jackson’s time cost about $17,700 a minute (the total was 500,000 pounds), and amazingly the bank had offered even more for the Black Eyed Peas, but the band reportedly said they’d only lip sync and wouldn’t do a live a performance.
“The bank’s wealthy guests were provided with champagne, spa treatments and unlimited rounds of golf,” the Daily Mail reported. “Guests were also treated to culinary creations by Michelin-starred TV chef Heston Blumenthal who was on hand to ‘meet and greet’ the financiers upon arrival on Wednesday evening.”
Apparently the “the celebrity chef’s duties – for an undisclosed fee – also included organising a team of chefs to make hundreds of gin and tonic cocktail meringues, which were cooked in front of guests in liquid nitrogen.”
On the lavish event, Deutsche Bank said: “We hold events for clients from time to time and choose convenient venues which allow us to re-invest our spending in the local economy.”
As Here is the City reported, “Deutsche has a history of getting top pop stars to client events.” Kylie Minogue was said to have been paid $3.2m for a 40 minute set in 2004, and the Rolling Stones allegedly earned $5.4 million for a set in 2007.
Business Insider Emails & Alerts
Site highlights each day to your inbox.