Amid warnings about inappropriate behaviour, some major banks have steered clear of the MIPIM international property conference in Cannes this week.
Neither HSBC or Bank of America Merrill Lynch (BAML) took a major presence at the conference this year, having previously sent several members of staff to the week-long event.
There seems also to be a nervousness about being seen to be encouraging lavish spending, with many parties around the show traditionally held on yachts.
Trade magazine Estates Gazette has said that the Royal Bank of Scotland and its high wealth division Coutts would not be in attendance this year and organiser Reed Midem had come under fire when reports emerged that prostitutes had been seen in major hotels in Cannes.
The organiser has strenuously denied that it allows such behaviour. Before the conference began, all delegates were sent an email reminding them of the conference code of conduct.
The Royal Institute of British Architects also warned members that they take misconduct cases “extremely seriously” and strongly condemn any form of sexual harassment or discrimination.
A statement from the Institute said:“We are aware of reports regarding inappropriate behaviour at MIPIM in previous years. We have strict requirements for our members through our codes of professional conduct.”
UK event organisers Pipers Events, who coordinate the event’s London stand also sent a letter to delegates that inappropriate behaviour would not be acceptable this year, noting employees had been trained to deal firmly with any such cases.“We know the built environment professions have traditionally been male dominated and we take the issue of inappropriate behaviour across the industry incredibly seriously,” Pipers said.
Pipers is also signatory to the See The Elephant campaign, launched by The London Festival of Architecture to tackle sexism — the elephant in the room — following a string of scandals including Las Vegas showgirls attending last year’s UK Construction Week.
Hermes Real Estate, one of the largest real estate managers in the UK, managing £7.8bn of property, is another company understood to have pulled out of the event over concerns.
One former footballer, however, played a starring role at MIPIM. Manchester United defender turned entrepreneur Gary Neville set out plans at MIPIM for a new university, claiming Microsoft was on-board as a partner.
University Academy 92 (UA92) is the brainchild of Gary and Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt, known as the Class of ’92.
In partnership with Lancaster University, Trafford Council Trafford College, development giants Bruntwood and Microsoft, the venture will offer degrees in media, business and sport.
Neville was quoted as saying: “We have Microsoft as a partner and we feel that to be competent in digital skills is important for everyone in every sector.”
UA92 will be based at a new campus in Old Trafford and the first students will begin their degrees in September 2019 with the ex-stars currently attending recruitment fairs.
MIPIM 2018 offers four days of debate and discussions through conferences and networking events about the latest property and investment trends. The conference lasts until 16 March.
Representatives from 500 cities and local authorities from around the world are promoting their territories to international investors and developers and the UK political contingent includes Joanne Roney, chief executive, Manchester City Council, Jules Pipe, deputy mayor for planning, regeneration & skills, Greater London Authority and Suzanne Wylie, chief executive, Belfast.
