No, your investment banker isn’t ignoring your WhatsApp. They’re probably just not allowed to respond to it.
Some bankers are frustrated at not being able to use WhatsApp more freely as it is an easy way to communicate with clients overseas.began in March last year over the use of personal mobile phones and apps like Meta-owned WhatsApp. Many on Wall Street were forced to hand over their phones to their employers for inspection.
Regulators have argued unauthorised apps allow bankers to skirt around rules requiring them to preserve business records, which have made it harder to weed out nefarious behaviour like insider trading or the sharing of confidential information.While it is almost a year since financial institutions implemented more water-tight policies around using messaging apps, not being able to chat business on WhatsApp or Signal still rankles many Australian bankers working for global firms.
One banker who works on cross-border initial public offerings out of New York told us he can no longerwith bankers when they are doing deals together. And gone is the peace of mind offered by the standard encryption tech encoded in most such apps.Bankers can message clients on WhatsApp for immediate communication needs, like if they are running late for a planned meeting.
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