At least for UBS I know that employees benefit from reduced fees for trading & custody. Can’t say whether it’s a substantial discount or not.
It’s 50% but still the prices compared to IB are very high. As I said, I wonder who would use it as an execution-only account.
Thank you all for your advices and for sharing your views on and experience with such situation. I was already in touch with the compliance department, when I started this thread, and I continued with the negotiations trying to achieve an exception from the internal policy. Unfortunately, my request was declined.
So, I will need to close my newly opened IBKR account and either open a custody account with the bank, or not have any at all. The latter is the plan for the nearest future and it’s probably time to look for a new employer 