The liquid lunch, the noontime three-martini, or a swift pint at lunchtime – all will get you in disciplinary trouble at a prestigious financial services firm in the City of London.
Staff at Lloyd's of London have been banned from daytime drinking, «The Telegraph» reported.
Led by former Converium head and Zurich insurance executive Inga Beale (pictured below), 329-year-old Lloyd's is no longer an insurer: it is a marketplace linking insurance brokers and syndicates taking on risk.
But it remains a London institution. Its offices in central London are a stone's throw from Leadenhall Market, a covered Victorian market home to pubs, bars and restaurants.
«PC Central»
The lunchtime boozing ban comes after roughly half of employee disciplining cases were found linked to alcohol. Anyone found violating the Lloyd's ban faces misconduct proceedings and risks losing their job.
«Lloyd’s used to be a fun place to work. Now it is the PC [political correctness] capital of the world where you can’t even go out for a lunchtime pint anymore?,» one staffer griped.
The midday pint or glass of wine has all but disappeared among high-octane Wall Streeters, austere Zurich private bankers, or Singapore finance experts.
Changing Norms
Drinks are also rare among Canary Wharf bankers, who are more likely to ingest a sandwich at their desk than head for the pub – at least not at lunchtime.
Lloyd's said the move was simply bringing itself into line with changing norms.
«The London market historically had a reputation for daytime drinking but that has been changing and Lloyd’s has a duty to be a responsible employer, and provide a healthy working environment.»
Staff Backlash
The ban sparked angry reactions among staff, some of whom complained of an Orwellian nanny-state at Lloyd's.
«Will we be asked to go to bed earlier soon?,» one Lloyd's staffer wondered rhetorically.
Ironically, liquid lunches have largely vanished in recent years – particularly following the global financial crisis.
Investment banks have largely moved out to Canary Wharf, a business district in East London, for the cheaper infrastructure costs.
By contrast, Prudential, formerly led by Tidjane Thiam, Aviva, Old Mutual and Legal & General – like Lloyd's – are all still located within the City.
