Hong Kong bankers going toe-to-toe for charity

(AFP PHOTO / MIKE CLARKE)

You could find quite a few people around the world these days willing to pay a pretty penny for the chance to get into a boxing ring with a banker, or a hedge fund manager, and work off a few quick rounds of the past year's financial frustrations.

While that opportunity is never really going to happen, the next best thing will be going down come sunset at Hong Kong's famous Happy Valley racecourse on Thursday, October 29.

On that night, people can pay to sit ringside and cheer while a collection of bankers and fund managers beat the living daylights out of each other. What's more, all proceeds collected will go to charity.

Hong Kong's third Hedge Fund Fight Nite (http://www.ironmongerevents.com) has six boxing bouts on its card and has collected 12 first-time fighters from the local financial industry.

Similar fight nights have sprung up in other centers of world finance over the past few years -- including London and New York -- and organizers of the Hong Kong event say although it sounds like a bit of fun, it all gets very serious.

"We initially had 44 volunteers sign up to take part in the event,'' organizer Rob Derry told a crowd gathered at the event's official weigh in.

"It is a testament to these 12, who stand here before us, of the amount of time and effort they have put in to make it this far. Having never boxed before, the energy these guys have put into training is astounding.''

The field was whittled down judged on ability -- some of those in training didn't show enough and some showed too much. Rumors are buzzing around town that once the would-be boxers were allowed to spar with each other, an ex-rugby player left a few battered and bruised and had to be shown the door "in the interests of safety.''

The six bouts will be held over three two-minute rounds, and tables for the black-tie evening are going for between HK$18,000 and HK$50,000 (1,500 euros and 4,300 euros) each.

The night hopes to raise more than HK$1 million (87,000 euros) for the Project Smile and Operation Breakthrough charities which, respectively, raise money to help repair children's facial deformities and fight juvenile crime in low-income Chinese communities.

http://www.ironmongerevents.com

MS