Oblivious senior management creates atmosphere of just do enough to not get fired
Pros
The people in middle management and lower are the sole reason pleasure working at UBS.
Cons
Raises do not exist below MD level; executive management is clueless and they prefer it that way; senior management very weak and pass blame down the ladder, so when time for layoffs come you know who gets hit; PaineWebber leftovers long for the days of Joe Grano and the like. The Swiss are not ideal to work for in the US. They love to tout their values and integrity, but the same small group of kook-aid drinkers are the only ones to get anywhere, don't see much integrity there. Management insists on using performance evaluations that have been cast aside by every major company, including GE who started it. Doesn't matter how good you perform, someone has to get the bad grade if too many already have high marks.