The devil’s in the details in the new season of this tense financial drama

For newcomers to Devils, the single most important detail to remember and keep at the front of your mind is that just about everyone is stabbing someone else in the back, or at the very least, involved in some kind of subterfuge.

Season 1 was set in 2011, with the financial markets at the time serving as a backdrop, with real-life situations straight from the headlines. The hero, if you want to call him that, is Massimo Ruggero (Alessandro Borghi), the hot-shot head of trading at New York London Bank (in London). He has what he thinks is a close relationship with CEO Dominic Morgan (Dempsey), which will ensure him a promotion.

Spoiler: That doesn’t happen because Massimo becomes embroiled in a scandal surrounding his ex-wife, and Edward Stuart (Ben Miles) is appointed ahead of him. Like, what the heck, Dominic? But then (not a spoiler because this happens in the first episode), Ed plummets to his death, begging the eternal question – did he jump or was he pushed?

All is revealed by the end of the season, as Dominic appears to slink off into oblivion while Massimo takes his place as CEO of NYL. For Season 2, fast-forward first to March 2020 as the world was entering the Covid pandemic for a scene between Massimo and Dominic that hints of some serious wrongdoing on Massimo’s part, and Dominic crowing over it. Clearly there is no love lost between them. Then flash-back to 2016, which is where the action takes place.

Again, with the headlines as the guide, the narrative begins with the referendum that led to Brexit, and it’s kind of cute to see our characters concerned mainly with the immediate effects it would have on the stock market because of course they don’t know it would still an ongoing headache for years. It’s also interesting to see the inclusion of new-at-the-time technology such as contact tracing apps, the data war, and 5G.

Massimo gets to drive some fast cars, and punch out his frustrations in the boxing ring, but then look, there is Dominic, stalking him. He has an offer for Massimo. “Take no for an answer,” says Massimo after a couple of advances by his old mentor.

But Dominic does not. Massimo switches sides when he’s fired from NYL, but he’s still trying to find out why his colleague Kalim (Paul Chowdhry) was killed (again, not a spoiler, it’s in the first episode – but was it murder or was it a Brexit hate crime?), and he cosies up to Oliver Harris (Malachi Kirby), now married with two children and racing up the ranks at NYL but putting out feelers for a new job since he’s gone as far as he can, and Eleanor Bourg (Pia Mechler), all of whom return from Season 1. Please refer to the first paragraph.

New in Season 2 are Li Jun Li as Wu Zhi, and Joel de la Fuente as Cheng Liwei – Chinese characters, as this is a strong and significant story arc; and Clara Rosager as Nadya Wojcik, a socially awkward mathematical savant to whom Dominic takes a shine.

Devils is based on the 2014 novel of the same title (Diavoli) by Guido Maria Brera, and the series is a UK/Italian co-production. This influence gives it a distinctly different look, with overlays, cutaways, and the technique of extreme close-ups but only in the quarter end of the screen, so you only see half the actor’s face. Not even the rule of thirds.  It’s also something of a slow burn, with both seasons taking at least two episodes to warm up, but once it has, there’s a lot happening. Concentration is required.

“The frenetic editing and writing ensure constant tension, and the twists are not lacking. Even if the weapons are always financial operations, Diavoli works more and more like a gangster movie or a pirate movie, in which changes of field, always brought about by convenience and almost never by values, are the order of the day,” says Opentapes.

Want similar picks to stream on Showmax? If you love series set in the world of high finance, Billions is a must, as is HBO’s Industry, which is targeted at a slightly younger demographic and very Wolf of Wall Street in its decadence. Lena Dunham (Girls) directed the first episode of Industry, which has been greenlit for a second season, delayed due to Covid. It’s that good, that I segued into it just to test the water to see if it should be included here, and next thing I knew, I had binged the whole thing.