UBS - Mahony Partners

Sep

2015

UBS Wants to Have a Little Talk

Give UBS credit for bravely launching a major ad campaign when antipathy toward big banks is as strong as ever. The ads pose deeply personal questions in a bid to put UBS in the middle of an individual’s most critical dialogue. But will people let UBS inside? ... Read More

Jan

2014

Saving Sergio Ermotti

Financial Services, Taking & Managing Risk

UBS chief executive Sergio Ermotti bravely launched a defense of the banking sector and hit out at its critics in a candid interview from the World Economic Forum in Davos, Switzerland. In this post, we imagine the conversation Ermotti had with his PR chieftain when he returned from the mountains. (more…) Read More

Dec

2013

Our Hits and Misses in 2013

Friday Risk Reading, Taking & Managing Risk

It’s the time of year to reflect on life, business – and our best and worst posts. Your diligent scribe here at the Risk Matters blog had a few observations that proved prescient. Oh yes, there were some clunkers, too. (more…) Read More

Jan

2013

The Investment Banking Reformation, Part 3

Financial Services

The sinners continue to repent in the great Investment Banking Reformation. The latest penitent is Andrea Orcel, the head of investment banking at UBS, who appeared before Britain's Parliamentary Commission on Banking Standards and promised to 'put integrity before profit.' But it is brutal economics, not soul cleansing, that is changing UBS and other institutions. ... Read More

Nov

2012

What’s the Next Act for Investment Banks?

Climate Change, Financial Services, Taking & Managing Risk

Three recent deals involving investment banks suggest a reshaping of the industry is underway, but beyond the perfunctory coverage of their press releases the deals haven’t drawn much attention. But each says something significant about where the industry has been – and where it might be headed. (more…) Read More

Jul

2012

Muni Market Braces for its Rate-Setting Scandal

Crisis, Financial Services

In the wake of the Libor-rigging scandal, U.S. regulators are looking at how a key benchmark rate in the $3 trillion U.S. municipal bond market is determined. Maybe regulators read the RiskMatters blog? (more…) Read More

Nov

2011

On air crashes and financial failures

Crisis, Financial Services, Friday Risk Reading

I happened to be reading Malcom Gladwell’s excellent book, Outliers, just as MF Global was collapsing, and I came across Gladwell’s discussion about another kind of crash – those involving airplanes. Gladwell offers an interesting observation about the causes of air disasters that could apply to the failures at financial firms, like MF Global, or the whopping trading losses reported two months ago at UBS. Gladwell shows that air disasters aren’t caused by a sudden, dramatic mishap but an accumulation of small errors rooted in poor communication: “The typical accident involves seven consecutive human errors. One of ... Read More

Oct

2011

Credit Suisse campaign gets it right

Advertising, Financial Services

In a vast sea of sameness, Credit Suisse unveiled a distinctive global advertising campaign last month. It’s a good campaign and a good message. The financial crisis and the vilification of banks have made big-splash branding campaigns a rarity among financial firms. Most have scuttled advertising entirely or narrowed it to focus mainly on products. Others, notably Goldman Sachs, have used advertising as part of program to address public issues. (Like: “Why do we need high priced bankers, exactly?”) The Credit Suisse campaign is smart, thoughtful and well executed. And it emphasizes the c... Read More

Oct

2011

Friday Risk Reading: Fostering a healthy risk culture

Friday Risk Reading, Taking & Managing Risk

Lately I’ve been thinking a lot about risk and corporate cultures. Some cultures produce disasters, like the massive, concealed trading loss at UBS – the most recent in a long streak of debacles for the bank. Other environments, however, seem consistently to produce good things – valued products and great experiences. Apple of course comes to mind in this category; Starbucks, too. Both have cultures that nurture and sustain healthy risk-taking, and I am offering two quick items about them for this week's Risk Reading. I’ve written Read More

Sep

2011

Firing the CEO, Part 4: Parsing the UBS statement

Financial Services, Taking & Managing Risk

Swiss banking giant UBS today announced the resignation of CEO Oswald Grubel after a marathon meeting of its board in Singapore. There was speculation all week that the scandal could ultimately cost Gruebel his job but the suddenness of his departure is a bit of a surprise. His exit marks the fourth CEO firing in the past two weeks, and the second in the banking industry. The statement by UBS, while more detailed than earlier commentaries, nonetheless leaves several questions unanswered. There is no complete explanation of how the trading losses occurred and who besides the jai... Read More