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Now, it seems, UBS has withdrawn the booklet and has stated it will produce a less formal slimmed-down version, according to news service Associated Press.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

Quality factor explained by profitability: Robert Novy-Marx

Among academic classifications, and the subsequent implementation of factor investing, “quality” is one of the newer areas of investigation. Robert Novy-Marx, the Lori and Alan S. Zekelman Professor of Finance at the University of Rochester, is leading the charge on the academic justification of quality as a factor, although he has a “jaded scepticism” about

How to allocate assets to combat climate risk

  Mercer’s extensive climate change report, launched today, gives investors a practical framework for monitoring and managing climate risk, shifting the discussion from philosophical agreement to practical investment implementation.   In Investing in a time of climate change Mercer outlines extensive dynamic investment modelling that analyses changes in the return expectations of assets between 2015

Behind Norway’s coal divestment

The Norwegian Parliament’s finance committee recommendations to direct the Government Pension Fund Global to divest from companies that generate more than 30 per cent of their output or revenue from coal-related activities, is the evolution of a climate-related investment strategy that dates back to 2010. Amanda White explores the raft of tools the fund uses

CalPERS gives its managers ESG ultimatum

In what promises to be a transformational moment for ESG integration and investment manager accountability, CalPERS will require all of its managers to identify and articulate ESG in their investment processes. CalPERS staff led by Anne Simpson, senior portfolio manager and director of global governance, presented the ESG manager expectations, and draft sustainable investment guidelines,

Sourcing liquidity in fragmented markets

As equity trading becomes more fragmented, and more trading is done outside exchanges, it is prudent to assess whether alternative liquidity pools contribute to well-functioning markets. Norges Bank Investment Management has done the work for you, analysing the contributions, structures and functions of trading venues with limited pre-trade transparency. One of the benefits of liquidity

Factors the same in credit and equities

Robeco will launch the world’s first multi-factor credit fund, after academic research by its quantitative research team reveals that size, low-risk, value and momentum factors have economically meaningful and statistically significant risk-adjusted returns in the corporate bond market. David Blitz, co-head of quantitative strategies at Robeco in Rotterdam, tells Amanda White why an active approach makes

Previous