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UBS and You

Published 19/09/2011 00:00:00

It was a catchy marketing phrase: "UBS and you". Now the question is how does it affect you - what are the repercussions? Yes there will be an investigation and probably more regulation; and yes you, the reader and business owner/entrepreneur will have to pay for it. There will probably be more tightening in lending to small business, because that's the way things go: the big and clever (or perhaps not so clever) boys lose tons of money and the small guys, somehow, have to pick up the tab.

But what is more intriguing is the department in UBS which caused the loss. It's called "Delta One" like a good action movie - but movies have a director who can direct a positive and happy outcome. Banks seem to have directors who like to gamble - because the underlying business of "Delta One" was nothing more than gambling; no kidding or spin (and no customers involved): "Delta One's" function was betting on small movements in the stock market!

I have met thousands of business people in my working life and some of them took gambles in their decisions but I have not met one small business owner and entrepreneur [other than bookies] who set out with a business model based on gambling. So - let's go back to our business and get on with developing and operating our businesses (and looking after our customers).

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