He’s only going to serve as a non-executive but, even so, UBS’ success in persuading former JP Morgan stalwart Jes Staley to join its board of directors amounts to a bit of a coup.

That's because Staley is a rare, possibly unique, all-rounder in banking terms, having run both buyside and sellside operations. He learned to swing both ways during his 34-year career at JP Morgan, where he was latterly viewed as a potential successor to chief executive Jamie Dimon, prior to joining hedge fund group Blue Mountain Capital Management in early 2013, where he stays in situ as its managing partner.