Capital City

Leonard has spent a year wooing back a major client, the Municipal Pension Fund, and he assigns the job of advising them to Declan, the bank's senior dealer. Unforeseen problems threaten the deal that Declan is setting up for the bank thanks to Jimmy, a junior dealer.

Jimmy Destry meets journalist Sarah Douglas at a private party, Not realising her profession, he divulges potentially damaging information about his colleagues and the departure of Ralph Goldring, Shane Longman's former Finance Director. The article is later published in the London Evening Post and includes unfavourable references to team members including a "Scandinavian cow", which Sirkka believes is her. It is later revealed that Max and Sarah were once lovers.

Hudson Talbot, Shane Longman's capital markets originator, is woken in the middle of the night by his colleague, Max Lubin, the Bank's Director of Swaps. Hudson is persuaded, reluctantly, to discuss what sounds like another of Max's unorthodox but possibly brilliant schemes.

A dawn raid has occurred and Friedmans, a rival bank, has acquired 15 per cent of Shane Longman's shares. A takeover is threatened and the dealers' jobs are suddenly at stake. Chief Executive James Farrell tries to contact Peter Longman, the bank's major shareholder, only to discover that he is fishing somewhere off the north-west coast of Tahiti and cannot be reached. But a young accountant doing an audit at Shane lets slip to Chas and Declan that things at the rival bank are not what they seem.

Peter Longman is in ebullient spirits. As Shane Longman's major shareholder, he has secured a deal with Tokyo-based Ikeda Bank to set up a joint venture. The signing of the agreement between the two banks is to be widely covered by the City press. Leonard Ansen is not so enthusiastic and believes Longman has rushed into the deal too quickly without considering the long-term implications of the tie-up. Ikeda executives give some indication of their desire to eventually take over Shane Longman but walk away from the deal after being less than impressed by what they perceived as a lack of discipline in the dealing room.

Max and Hudson have completed a deal with the Pan Mediterranean Fund, an EEC entity which offers finance to the poorer areas of Europe. Jerome Heron is a difficult character but his deputy, Monique Danvier, is far more likeable.

Eyebrows are raised when Max employs astrology to predict major deals. Thrill-seeking Sirkka enters dangerous territory when she becomes a high-class prostitute and discovers that risk isn't confined to the dealing room floor.

Whilst finalising an awkward deal in Warsaw, Max becomes very taken by Maxine, who works in an art gallery. Meanwhile, Sirkka hits rock bottom when she collapses with alcoholic poisoning and is rushed to hospital.

Wendy is promoted to become the new Head of Derivatives and is replaced as Chief Trader on the floor by the hard-boiled Sylvia Roux Teng. Sirkka gets a wake-up call and decides to join Alcoholics Anonymous. Jimmy Destry is sacked for malpractice after Declan discovers his off-market trades.