Time was, bankers ingratiated themselves to clients in an attempt to win their business by taking them out for steak dinners, offering them prime seats at sporting events, and showering them with coke and prostitutes. According to a report by Bloomberg today, though, dangling a chunk of meat in a hedge fund manager’s face no longer holds the appeal it once did. People are a lot more health conscious than in the past, they only have limited free time outside of work, and quite honestly? If they have to sit through another agonizing dinner in Midtown that involves the sort of secondhand embarrassment that can only come from you insisting on addressing the waitresses as “Sweet cheeks,” “Sugar tits,” and “My little piece of Kobe beef,” they might just cut their ear off. What’s a salesperson tasked with providing bonding experiences to do?

Gaining popularity, apparently, is inviting hedge fund managers and mutual fund traders to spend an hour or so working out together. The allure is in the fact that it’s a relatively quick commitment, it can be done in the morning, no one feels fat afterwards, and, of course, the enforced silence (other than motivational shouts and grunts).

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