Wall Street Banks Battle it Out on the Chessboard

Wall Street Banks Compete in World Corporate Chess Championship

In a surprising turn of events, Wall Street banks recently traded in their M&A league tables for chessboards to determine who among them is the brightest. However, it turns out that none of them were able to claim the title.

Players from top financial firms such as Goldman Sachs Group Inc., BlackRock Inc., and Deutsche Bank AG were outmatched by competitors from online chess platforms Chessify and Chessmood in the final rounds of the World Corporate Chess Championship held in New York.

Only UBS Group AG and Susquehanna International Group managed to make it to the semifinals, with Chessify ultimately clinching the title in three intense rounds on Monday afternoon. The competition, organized by FIDE, the International Chess Federation, aims to crown the “smartest company in the world” through the game of chess.

The tournament featured twelve four-person teams, with eight teams earning their spots through qualifying rounds earlier in the year and four wild card entries. The matches were held in person at the Financial District’s Cunard Building, marking the first time the event was held in a physical setting after being virtual during the pandemic.

Notable side matches included a draw and loss by world-ranked chess player Boaz Weinstein, a hedge fund manager, against Woman Grandmaster Keti Tsatsalashvili of Georgia. Spectators, ranging from retirees to college-age chess enthusiasts, circled the perimeter, whispering comments on the gameplay as players strategized their moves.

Participants emphasized the importance of being well-rested and mentally prepared for the rapid-fire format of the tournament. Teams fielded high-ranking players with impressive records, including grandmasters from Chessify, ChessMood, and Susquehanna.

Despite the fierce competition, players like William Graif from Deutsche Bank reflected on their lifelong passion for chess and the enriching experiences it has brought them. The tournament not only showcased the intellectual prowess of the participants but also fostered camaraderie among colleagues from different financial institutions.

In the end, the winning team from Chessify, comprised of grandmasters Zaven Andriasian and Gevorg Harutjunyan, along with Tigran R. Sargsyan and Ani Harutyunyan, emerged victorious. The event served as a unique opportunity for Wall Street professionals to showcase their strategic thinking skills outside of the boardroom.

The World Corporate Chess Championship highlighted the intersection of intellect, competition, and camaraderie among some of the brightest minds in the financial industry, proving that the game of chess continues to be a timeless test of skill and strategy.