that money wasn't cheap. The accounts show that the Presidents Club spent 597,790 pounds on the 2016 charity event.

Great Ormond Street Hospital and Evelina London Children's Hospital said they would return previous donations and sever ties with the Presidents Club.

The FT reported that women working at this year's black-tie event were given short, tight, black dresses, black high heels and a black belt resembling a corset. They told of men repeatedly putting hands up their skirts and said one attendee exposed his penis to a hostess.

"Some of the behavior was pretty shocking, quite depressing, if I am honest," reporter Madison Marriage said in a video about her work on the story.

The newspaper said the hostesses were required to sign a non-disclosure agreement before starting work.

The event has featuredsome of the biggest names in British business, sports and media. Among them was WPP, the FTSE 100-listed advertising conglomerate, which has traditionally sponsored a table at the event.

"Neither the company nor our attendees were aware of the alleged incidents until informed of them by the Financial Times," WPP said in a statement. It said it was ending its association with the event.

This year's dinner was hosted by comedian and children's author David Walliams, who said he didn't witness any misconduct but was "absolutely appalled by the reports."