Managing directors at UBS reduced to tedious role of chat room moderation
Where can you earn £250k+ as a chat room moderator? Try UBS's investment bank.
Bloomberg reports that UBS dispatched a memo yesterday, commanding that: “All social related chat rooms are prohibited and must be closed immediately.”
Single client chat rooms are still permitted at UBS, says Bloomberg. However, they will need specific written approval by an MD and the MD 'may need to be permanently on the chat, monitoring it.'
Sounds like a dream job for a 20 year old with social media aspirations. With only one client permitted per chat room at any one moment, the role doesn’t even sound that onerous (although that client may be chatted by multiple UBS bankers, which could be complicated).
UBS MDs may be less thrilled with their new job descriptions. Having clawed your way to the top of the trading hierarchy, do you really want to be relegated to chat moderation? Is there any revenue to be made from it? More to the point, if you're an MD is this really the best use of your time?
We suspect there will be some delegation to a new breed of young social media-savvy compliance professional. New jobs may come of this yet.