International banking co-operative Swift is re-instating its popular end-of-Sibos party following a one-year hiatus in Hong Kong, when the iconic event was deemed surplus to requirements in the post-credit crunch era.
In line with the new financial austerity, Swift has re-branded the Thursday night bash as the 'closing networking event'.
"Taking place in the Amsterdam RAI and beginning at 19:30, the closing event is a unique opportunity to catch-up with your peers, meet new business contacts and reconnect with old friends in a more relaxed atmosphere," says Swift in a notice on its Sibos 2010 site.
The return of the after-show shindig should satisfy vendors who complained that its cancellation left no incentive for delegates to stay the course at the week-long event. This was evident at a sparsely-attended closing plenary on Thursday afternoon last year, as foot-sore banking reps took the opportunity to head for the exit at the earliest opportunity.
Finextra verdict Smart move by Swift, which has been getting ear-ache from the 200+ exhibitors about the party's demise, particularly in light of the imposition of a series of steep price hikes for Sibos 2010 in Amsterdam. As Finextra noted last year: "For many long-time Sibos devotees, the party was as big a draw as the conference agenda. It was a time to unwind, relax a little and catch up with old friends who you might not have had time to chat to during the week. As such, it was a valuable part of the formula." Let's hope that Swift retains it tradition of theming the event around local past-times. The recreation of the classic Amsterdam coffee shop experience is likely to go down a storm with pleasure-seeking Sibos-heads.