By George Matlock
Elton’s dabbled in the Microsoft Challenge to pick equities before. But his latest “wheeze” was to place his first money market trade on December 11, 2002.
He was at ICAP PLC in London, one of the largest inter-dealer brokers in the world, which hosted its 10th charity day.
And being big, ICAP did it big! On its annual charity day, ICAP donates all revenues and commissions it earns that day to good causes.
Many of the staff got into the spirit, dressing as cops, hippies and even one of Elton’s duet partner, Bob the Builder!
Staff are trained to handle all the day’s events which move bond markets, be it the fall of a government, a terror attack in a financial centre, or a European Central Bank interest rate cut.
But staff were star-struck when Elton appeared on their busy dealing floors! Some approached him and remarked: “Er, Elton, I love your new album.”
During his visit, Elton met ICAP’s chief, Michael Spencer, whose brokerage has donated a total of more than £10 million to charities since the fund-raising programme began in 1993.
ICAP told EJW.com they raised £500,000 for the Elton John AIDS Foundation this year. The charity was among eight to take a share of the £3.3 million raised on the day. That makes ICAP one of the biggest charity fund-raising outfits in the brokerage world of London!
“Charities are chosen by the individual offices in each country. There are no specific criteria, but we do try to support a variety of causes each year ensuring that charities of varying size are also chosen,” a spokeswoman told EJW.com.
“For London, there is a committee which meets in the first half of the year to decide on which charities to support on the Charity Day which takes always takes place in December.”
The other charities taking a cut were: Help the Aged; KIDS; The Grange Centre; Motor Neurone Disease Association; DEBRA; British Retinitis Pigmentosa Society; The Life Neurological Research Trust.
More exclusive photos of this event now available for Citizens of EJW.com in a slideshow.
We thank ICAP for their support of our report.
[Ed. Question is, did Elton spot the press cutting pasted on the wall that our intrepid reporter spotted behind the desk of one economist Don Smith
? This peeling yellowed cutting is reputedly there because some of the traders think one of their brethren looks like the great contemporary Mozart. Hmmm.]
Pick Stocks with Elton John – Thursday, April 25 2002 at 13:14:44