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Now, it seems, UBS has withdrawn the booklet and has stated it will produce a less formal slimmed-down version, according to news service Associated Press.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

French SWF picks Mubadala for first co-investment pact

The French economy will be the target of future co-investments by the nation’s $US28 billion sovereign wealth fund, the Fonds Strategique d’ Investissement (FSI), and the $US10 billion Mubadala Development of Abu Dhabi, after the two investors forged a strategic partnership this week. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

For smarter portfolios, look for better beta

The EDHEC Risk and Asset Management Research Centre and the CFA Institute held an annual three-day seminar on advances in asset allocation in New York in early May. One of the main themes of the seminar was how investors align their long-term time horizons within short term constraints. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Longevity swaps now part of the risk tool set

Engineering firm, Babcock International, is the first UK firm to use a longevity swap to hedge against life expectancy risk in its pension scheme. Amanda White looks at the use of longevity swaps as a risk management tool. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Better beta strategy bridled by maverick risk

CalPERS has led the charge in the adoption of fundamental indexing, but the concept has a long way to go before it challenges the conventional cap-weighted strategy. Michael Bailey spoke to chairman of Research Affiliates, and one of the originators of fundamental indexing, Rob Arnott. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Abu Dhabi funds advance on JVs with Western investors

The strategic investment arm of the Abu Dhabi government, Mubadala Development, has built its stake in joint-venture partner General Electric (GE), bringing it closer to reaching its stated aim of being a top 10 shareholder in the US conglomerate, while the Abu Dhabi Investment Company (ADIC) and UBS Global Asset Management (UBS GAM) reached a

US plays catch-up, institutions applaud “say on pay” reforms

Institutional investors in the US, including the largest pension fund in the country, CalPERS, have applauded the introduction of the Shareholder Bill of Rights which includes reform to allow long-term investors to nominate their own director candidates on the management proxy card. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Previous