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Now, it seems, UBS has withdrawn the booklet and has stated it will produce a less formal slimmed-down version, according to news service Associated Press.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

Future Fund takes big step for corporate governance

The A$58 billion ($46 billion) Australian Future Fund has made a number of corporate governance-related decisions, including bringing its proxy voting for domestic shares in-house and the creation of an environmental, social and governance risk management function. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Carbon risks reduced by good stock selection

Asset managers can dramatically reduce the carbon footprints of their funds through stock selection without the need to alter sector weightings or their overall investment strategy, according to a report by Mercer and Trucost for the WWF, that also found asset owners could encourage the active management of carbon risk in portfolios. mrec4inarticleinline Sponsored Content

Institutional influence shaping hedge fund investments

Janine Baldridge, Russell Investments’ global head of consulting and advisory services, talks to Kristen Paech about the new terms pension funds are demanding from their hedge fund managers – including lower fees and more control – and how managers are responding. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

$38b UN fund to review ALM

The investments committee and committee of actuaries of the $38 billion UN Joint Staff Pension Board will recommend the introduction of new asset classes, including emerging markets equity and debt, real return assets and private equity in a presentation to the board in July. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

CIC to invest 6% in hedge funds by 2010

The $200 billion China Investment Corporation (CIC) will have between $4 and $6 billion invested in hedge funds by the end of this year, and will develop in-house expertise including long/short under Felix Chee, special adviser to the CIO, as part of a wider recruitment drive which includes more than 30 new positions. mrec4inarticleinline Sponsored

Timor’s SWF awards first external mandate, begins global equities search

The $4.7 billion Petroleum Fund of Timor-Leste has diversified its portfolio away from US Treasuries by appointing, for the first time, an external manager to invest $1 billion in high-grade, diversified fixed income, while undertaking a search for global equity managers. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Previous