Morning Coffee: How anyone can get a job at UBS. Banking pay illusory for many

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So you want to work for an investment bank but you have no investment banking experience? UBS will hire you, but on one condition. You can work for UBS if you are able to decipher the meaning of the Tweet below:

UBS tweet

Spotted by Financial News and tweeted by Alex Batlin, head of UBS's new Fintech lab, the Tweet reportedly says, 'search for a challenge at UBS on the blockchain.' The blockchain is the ledger that records and verifies Bitcoin transactions. If you follow Batlin's trail and search there, you'll find a post from him that says, "“” Financial News queried what this meant with a UBS's spokesman who explained that the bank is looking for developers to work on so-called 'smart contracts' which can be instigated, verified and enforced automatically. Simple. Now all it takes is to send Batlin your CV.

Separately, Bloomberg surveyed 1,280 of its terminal subscribers on Wall Street and found that 48% of them are earning less than they'd expected to when they went into finance. Nor are things likely to improve: 18% think another collapse is on its way; 43% think Wall Street will shrink as regulation erodes business opportunities.


Senior M&A bankers in London are waiting for calls from Paul Taubman. Basil Geoghegan from Citigroup, Rakesh Patel from JPMorgan Chase and Simon Lyons from UBS are all joining him. (Financial Times)

Marco Baggioli, Global Head of FX Prime Brokerage at BNP Paribas, is joining ADS Securities London as Chief Operating Officer. (Leaprate) 

22 people just left Goldman Sachs' partner pool and two joined. (Bloomberg) 

Goldman Sachs quietly opened a new office in Brussels last autumn. (Financial Times) 

Deutsche Bank’s “me too” strategy of limiting low-return balance sheet positions is neither radical nor new. (Financial News) 

If you pluck your hair, you may stop going bald. (United Academics)  

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