"Pleasure not business, Michael? But that's how business works in this town, remember? It masquerades as pleasure. We 'new boys' have to have our perks these days, just like the 'old boys.'" He laughed. "Well then, how about that ghastly pub full of public-school jobbers down by the new Leadenhall Market. Know it? We could pop in for a pint. Nobody you or I know would be caught dead drinking there."
"Across from that brokers club, right?"
"That's the one. It's bloody loud at lunch, but we can still talk." Another laugh. "Matter of fact, I might even be asking a trifling favor of you, old man. So you'd best be warned."
"What's a small favor between enemies. See you at one."
"On the dot."
As he cradled the receiver and poured the last dregs of caffeine into his cup, he listened to the blare of horns on the Strand and wondered what was wrong with the conversation that had just ended. Simple: Kenji Nogami was too quick and chipper. Which meant he was worried. Why? These days he should be on top of the world. He'd just acquired a controlling interest in the Westminster Union Bank, one of the top ten merchant banks in the City, after an unprecedented hostile takeover. Was the new venture suddenly in trouble?
Not likely. Nogami had brought in a crackerjack Japanese team and dragged the bank kicking and screaming into the lucrative Eurobond business, the issuing of corporate debentures in currencies other than that of a company's home country. Eurocurrencies and Eurobonds now moved in wholesale amounts between governments, central banks, and large multinational firms. The trading of Eurobonds was centered in London, global leader in foreign exchange dealing, and they represented the world's largest debt market. In addition, Nogami had aggressively stepped up Westminster Union's traditional merchant bank operations by financing foreign trade, structuring corporate finance deals, and underwriting new issues of shares and bonds. He also excelled in the new game of corporate takeovers. None of the major London merchant bankers—the Rothschilds, Schroders, Hambros, Barings— had originally been British, so maybe Kenji was merely following in the footsteps of the greats. Vance did know he was a first-class manager, a paragon of Japanese prudence here in the new booming, go-go London financial scene.
This town used to be one of Michael Vance's sentimental favorites, a living monument to British dignity, reserve, fair play. But today it was changing fast. After the Big Bang, London had become a prisoner of the paper prosperity of its money changers, who'd been loosed in the Temple. Thanks to them the City, that square mile comprising London's old financial center, would never again be the same. After the Big Bang, the City had become a bustling beehive of brash, ambitious young men and women whose emblem, fittingly, seemed to be the outrageous new headquarters Lloyds had built for itself, a monstrous spaceship dropped remorselessly into the middle of Greek Revival facades and Victorian respectability. It was, to his mind, like watching the new money give the finger to the old. The staid headquarters of the Bank of England up the way, that grand Old Lady of Threadneedle Street, now seemed a doddering dowager at a rock concert.
All the same, he liked to stay near the City, close to the action. The Savoy, a brisk ten-minute walk from the financial district, was his usual spot, but since that was out of the question this time, he'd checked into the refurbished Strand Palace, just across the street.
Today he had work to do. He had to get word to the Mino-gumi to back off. And he was tired of dealing with lieutenants and enforcers, kobun. The time had come to go to the top, the Tokyo oyabun. The game of cat and mouse had to stop. Tokyo knew how to make deals. It was time to make one.