Thomas Hoover - Project Daedalus

"Please, just let me…" She leaned back again, arms wrapped around her purse, and firmly closed her eyes.

The Savoy, he thought again. Just my luck. That's where / always stay. Monday 9:43 A.M.

"Michael, I can't tell you how happy I am to hear from you, old man. We must have lunch today." The voice emerged from the receiver in the crisp diction of London's financial district, the City, even though the speaker had been born on the opposite side of the globe. Vance noticed it betrayed a hint of unease. "Are you by any chance free around noon? We could do with a chat."

"I think I can make it." He took a sip of coffee from the Strand Palace's cheap porcelain cup on the breakfast cart and leaned back. He'd known the London financial scene long enough to understand what the invitation meant. Lunch, in the private upstairs dining rooms of the City's ruling merchant banks, was the deepest gesture of personal confidence. It was a ritual believed to have the magical power to engender trust and cooperation-cementing a deal, stroking an overly inquisitive journalist, soothing a recalcitrant Labor politician. "We had him to lunch" often substituted for a character reference in the City, a confirmation that the individual in question had passed muster.

"Superb." Kenji Nogami was trying hard to sound British. "What say you pop round about one-ish? I'll make sure my table is ready."

"Ken, can we meet somewhere outside today? Anywhere but at the bank."

"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.

Kenji Nogami, he figured, was just the man. Nogami, a wiry executive with appropriately graying hair and a smile of granite, was a consummate tactician who'd survived in the global financial jungle for almost three decades. When the Japanese finally got tired of the British financial club playing school tie and bowler hats and "old boy" with them, shutting them out, they'd picked Nogami to handle the hostile takeover of one of the pillars of London's merchant banking community. Japan might still be afraid to go that route with the Americans, who loved to rattle protectionist sabers, but England didn't scare them a whit.

In years gone by, such attempts to violate British class privilege were squelched by a few of the Eton grads of the City chipping in to undermine the hostile bid. These days, however, nobody had the money to scare off Japan. The game was up. And after the deregulation of Big Bang, wholesale pursuit of profit had become the City's guiding principle. Unfortunately, that turned out to be a game Kenji Nogami and his Shokin Gaigoku Bank could play better than anybody in the world. Nogami saw himself as an advance man for the eventual Japanese domination of the globe's financial landscape. Maybe he was.

Michael Vance knew him from a wholly different direction, now almost another life. In years gone by, Nogami had traveled with equal ease in two worlds-that of straight money and that of "hot" money. He'd always maintained the cover of a legitimate banker, but insiders knew he'd made his real fortune laundering Yakuza amphetamine receipts and importing small-caliber weapons. It was that second career that now made him the perfect pipeline for a message that needed to be delivered fast.

Vance finished off the last of the coffee in his cup, then rose and strolled to the window to gaze down on the bustling Strand. The weather looked murky, typical for London.

Where was Eva now? he wondered. What was she doing? Maybe she'd managed to lose Novosty and get back to thinking about the protocol.

Well, he had some pressing business of his own, but the first thing was to try and find her.

Maybe she was wondering right now how to get in touch with him. What places here had they been together, back in the old days? Maybe there was some location… the V amp;A? St. Pauls? or how about a restaurant? What was that one she'd loved so much? The place the IRA shot up a few years back?

At that moment the white phone beside his bed interrupted his thoughts with its insistent British double chirp. He whirled around, startled.

Who knew he was here? If it was the KGB, or the Japanese mob, they wouldn't bother ringing for an appointment.