'So I was called into my boss's office and told I could either resign, or my boss would have to suspend me pending the launch of a formal investigation. He said this would probably damage my client as much as or more than me. I was shocked. Then I am afraid I lost my temper. I shouted and screamed at him, called him every foul name I could think of, and told him what he could do with my job. BLG had being trying to hire me for months, so I started a new job with them within a week.'
'But wouldn't it have been better to be a bit calmer? You could have cleared your name. Cash wouldn't have been able to prove anything.'
'The damage was already done. I wasn't prepared to have my integrity questioned in public, and my personal life examined under a microscope, just for the privilege of continuing to work with scum like that.'
'I see,' I said, feeling anger rise myself. 'You're right. What a bastard. This business is rotten. So many people running around making so much money. They think they are geniuses, but half the time they might just as well have stolen it. If they all just got on with doing their job in a straightforward, principled way, there would still be plenty for all of us.' I could not keep the anger from my voice, and I could feel the words coming faster and louder.
Claire laughed. 'Oh Paul! You are so sweet. So concerned. So idealistic. But the world doesn't work the way you want it to. You have to be tough to do well. The biggest bastards earn the biggest bucks. I'm OK. I am doing the same job for better people at a higher salary.' Her big, liquid eyes smiled at me beneath long lashes. 'But you were going to tell me your secret.'
I calmed myself down. 'I'm afraid I can't tell you the exact details yet, partly because I don't know them myself. It is important, though, that nobody finds out what I have been asking about.' I lowered my voice. 'Last year De Jong bought a private placement from Bloomfield Weiss, issued by Tremont Capital. It was Cash who sold it to us. Do you know anything about it?'
'Tremont. Tremont Capital,' Claire murmured, her forehead knitted in concentration. 'The name sounds familiar but I don't… One moment! I know! Wasn't the deal guaranteed by the Industrial Bank of Japan?'
'Not quite, it was Honshu Bank. But you are close enough,' I replied.
'Yes, I do remember it vaguely. It was only a small deal, wasn't it?'
'Forty million dollars,' I nodded. 'Did you sell any?'
'No. It was one of Cash's 'special deals'. I think he cooked it up himself. None of the rest of us got a look in at selling it. All the commission went to him.'
Special deals. Special customers. Cash did a lot of special business. 'Do you know anything at all about the company?'
'Tremont Capital? Nothing at all. I have never heard of it before or since.'
'Would anyone else?'
'No. When Cash put together deals, he kept them to himself until they were finished and he could proclaim them from the mountain-tops.'
'He must have had some help from someone in the firm, to do the documentation, or structure the deal,' I suggested. 'Was there anyone in Corporate Finance he used to deal with?'
'Not in London, I don't think. But he did talk to someone in New York on some of his special deals. I met him once when he was over in London. A short fat guy. Waigel. Dick Waigel, I think his name was.'
'Can you remember who bought the rest of the issue?'
'Yes, I think I can. I remember hearing Cash selling it to De Jong. It didn't take him very long. And then he just made one other call and sold the deal straight away. I remember thinking how amazing it was to be able to sell a whole deal in just two phone calls. I detest Cash. But I have to admit he is a good salesman.'
'Who was the other buyer?'
'I knew you would ask me that,' she said. 'Let me think… I know! It was Harzweiger Bank.'
'Harzweiger Bank? That's a small Swiss bank, isn't it?'
'Not necessarily small. Certainly low profile. But they manage a great deal of money very confidentially. Cash deals with them a lot.'
'Who did he talk to there?' I asked.
'A man named Hans Dietweiler. Not a very nice man. I spoke to him a couple of times.'
I had found out all I was going to find out from Claire. At least about Tremont Capital.
'One more question,' I said.
'Yes?'
'Who is Gaston?'
'Gaston? I don't know any Gaston.' Then she chuckled. 'Oh, you mean Gaston my boyfriend in Paris? I am afraid that was just a story for Rob.'
'That was cruel. He was very upset.'
'He was very persistent. I had to put him out of his misery somehow. This seemed like the best way. And he is strange that one.'
'Strange?'
'Yes. There is something about him. He is so intense, he seems unstable. You don't know what he will do next.'
'Oh, that's just Rob,' I said. 'He's harmless.'
'I don't know about that,' said Claire. 'I am glad I got rid of him.' She shuddered. 'Besides, I told you. I never sleep with my clients.'
As she said this she sipped her wine and looked over the rim of the glass at me. She seemed to smoulder, her lips very red, her eyes very dark. My throat was dry.
'Never?' I said.
She held my eyes for several seconds, sending messages whose precise meaning I could not decode. 'Almost never,' she said.
After that lunch it was difficult to focus on work. With an effort I managed to put to one side thoughts of what sex with Claire would be like, although they kept on trying to re-emerge. I had to make a phone call to Herr Dietweiler.
I looked up Harzweiger Bank in the
A woman answered.
'Can I speak to Herr Dietweiler?' I asked.
'I am sorry, he is not in now. Can I help you?' The reply was in excellent English.
'Yes, perhaps you can,' I said. 'My name is Paul Murray, and I work for De Jong & Co. in London. We hold a private placement which I believe you also bought. Tremont Capital eights of 2001. We would like to buy some more, and wondered whether you were interested in selling.'
'Oh, Tremont Capital! Finally we find someone who will trade in it. I don't know why we bought it. The Honshu Bank guarantee is very good, and the yield was nice, but nobody trades it. We are supposed to have a liquid portfolio here, not this garbage. What is your bid?'
This was tricky. The last thing I wanted to do was end up buying more of the bloody bond. This woman sounded as though she would sell it at any price!
'It's not for me, it's for one of our clients,' I lied. 'He was interested in buying our bonds, but they are not for sale. Before I can go to him to see at what price he would buy them, I need to be sure that you are a seller.'
'I see. Well, we had better wait for Herr Dietweiler. He bought the bonds originally. He should be back in an hour or so. Why don't you call back then?'
'That sounds like a good idea. Tell him to expect my call.'
Good. It was Dietweiler I wanted to speak to.
Exactly an hour later I rang the Zurich number again.
A gruff voice answered the phone, 'Dietweiler.'
'Good-afternoon, Herr Dietweiler. It's Paul Murray from De Jong & Co. here. I rang your colleague earlier about a bid for the Tremont Capital eights of 2001 that you own. I wonder if you would be interested in selling?'
'I am afraid you are mistaken, Mr Murray.' The heavy Swiss accent sounded less than friendly. 'I do not know where you obtained your information. We do not own that bond, nor have we ever done so.'
