Investment Banking

Banks shun Zoom: ‘Imagine if my pitch ends up on YouTube’

Banks including Citigroup and UBS have curbed or banned use of the video conferencing app amid security worries

Banks shun Zoom: ‘Imagine if my pitch ends up on YouTube’
Photo: Getty Images

A growing list of the world’s largest investment banks are joining the backlash against Zoom, limiting or outright banning staff from using the video conferencing app over fears about security and compliance. 

Bank of America, BNP Paribas, Citigroup, Deutsche Bank, JPMorgan, Standard Chartered and UBS have all advised their employees to use alternative video conferencing tools for client communication, according to people familiar with the matter.

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