FOR IMMEDIATE RELEASE ReachOut! Mentees Visit Macquarie Bank
ReachOut! took the Year 10 group who attend the Soccer School to Macquarie Bank just
before Christmas. The 14 boys were taken to the top floor of City Point, Macquarie’s offices
in London – normally the venue of mergers and high profile meetings – where they enjoyed
panoramic views of the capital from one of the tallest buildings in the City. Richard King, a
Crude Oil and Product Trader at Macquarie Bank and a mentor at the ReachOut! Soccer
School, gave a short talk into how a merchant bank operates and then introduced the boys
to the specially created Jaffa Exchange – an exchange which proved even more controversial
than oil trading!
Three boys were asked to take part in the Jaffa Exchange, in which “investors” could
speculate as to how many Jaffa Cakes could be eaten in one minute by the participants. The
rest of the boys discussed the variables; the contestants; appetite; ability to eat; jaffa cakes’
tastiness etc. All the boys made a prediction and the eating began in earnest. Afterwards,
Richard explained how inaccurate predictions would have lost Macquarie millions. The next
step was for the ReachOut! leaders to get involved. Syed Anane, also a Macquarie
employee and ReachOut! mentor, joined brothers Tolu and Sean Kayode in the eating part
of the Jaffa Exchange (pictured).
Unfortunately for them, Richard explained that
‘sometimes the rules or circumstances affecting a market change’ and the Jaffa Cakes were
promptly replaced by somewhat drier Cream Crackers, much to the dismay of the eating
parties. This interactive demonstration of spread betting illustrated to the Year 10 group the
main business of Macquarie.
Afterwards the boys were treated to lunch around the executives’ table and then were given
a tour of the trading floors, where they were staggered to discover free Lucozade available
to staff! Richard King explained to the group that hardly anyone – with Richard being an
exception – working at Macquarie grew up in Hackney, despite it being the closest
residential area to Macquarie’s London offices. He went on to say that he felt if ReachOut!’s
young people worked hard they might be more than capable of working in the City.
The day was a great success, and a real eye opener for the boys into the financial sector - the
main industry in their own city!
ENDS
For more information, interviews or images please contact Frances Blackwell
0207 249 6881 or 07985540239
frances.blackwell@reachoutuk.org
Notes to editors:
1.
Interviews and photographs are available on request.
2.
Please note that ReachOut! the charity should be written with a capital “R”, a capital
“O”, no spaces and an exclamation mark.
3.
More details about ReachOut! can be found on our website www.reachoutuk.org