The Devil Wears UBS … revised edition

Style is not really the forté of the Swiss so it may come as no surprise that the London arm of Swiss investment bank UBS got itself into a pickle after it published a 44-page dress code for employees late last year.

The code, which included compulsory red ties for men and advice on acceptable stockings and lingerie for women, was widely ridiculed in the City.

Now, it seems, UBS has withdrawn the booklet and has stated it will produce a less formal slimmed-down version, according to news service Associated Press. A spokesman was quoted this week as saying: “We’re reviewing what’s important to us.”

This has allowed the notoriously aggressive London press the opportunity to revisit the original code. Some highlights are:

. For female employees, the code spells out how to apply make-up and what types of perfume are advisable. They need to avoid showing different-coloured roots if they dye their hair and also avoid wearing black nail polish.

. In the sensitive underwear department, skin-coloured is preferable to dark knickers.

Sponsored Content

. Men are told how to knot their red ties and advised to get a haircut at least monthly. They should avoid unruly beards and earrings.

. For both sexes: glasses “should always be kept clean – on the one hand this gives you optimal vision, and on the other hand dirty glasses create an appearance of negligence”.

The spokesperson admitted that people had made fun of UBS over the code but said it did not cause the firm any reputational damage.

One response to “The Devil Wears UBS … revised edition”

Leave a Comment

Sort content by

Fund managers want to be fiduciaries too

With less institutional flows forecast in the next few years, asset managers will need to implement a convincing “fiduciary overlay” to win business from large investors. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Study accounts for TIPS, alternatives

The effects of adding TIPS and alternatives to the existing asset mix are being explored in an asset liability analysis conducted for the $53 billion Oregon Public Employees Retirement System by Strategic Investment Solutions. A presentation from SIS, which looked at five new asset allocation scenarios adding a 5 per cent alternatives allocation, and between

Time to come clean, says Ambachtsheer

The International Centre for Pension Management’s Keith Ambachtsheer believes if pension fund stakeholders “fessed up” about the real state of their funding situation, the business of pension fund management, and its subsequent investments, will have a brighter future. He spoke to Amanda White. There are not many pension funds around the world that can satisfy

Calls for global governance code go unheard

The global application of a code of best practice for institutional investors, developed by the UK Financial Reporting Council, was debated at the International Corporate Governance Network’s annual conference in Toronto. Amanda White reports. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

How emerging markets benchmarks misread economies

As pension funds around the world shift international equity allocations to emerging markets, they should be increasingly cautious about the benchmarks in use, according to Conrad Saldanha, the New York-based portfolio manager for emerging markets equities at Neuberger Berman. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Global equities lose ground to alternatives

Allocations to alternatives worldwide are expected to increase by more than 5 per cent at the expense of global equities in the next two years, according to Russell Investments 2010 global survey on alternative investing. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Previous