What's up with UBS LA?
What's up with the LA office of UBS?
http://dealbook.blogs.nytimes.com/2010/05/13/Moel…
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
UBS has an office in Louisiana?
How dare you bother all the Goldman fanboys on this site with your frivolous talk about a mid-tier BB like UBS!
Why the purchase of an Australian brokerage?
yeah UBS isn't in great shape, but don't let prople on here convince you it still isn't a powerhouse... it just may not be as good as CS/MS/GS in LA but by no means is it insignificant
....Joliet and Webber were pretty much the last beacons of light for that office..
UBS has its tech group up in San Francisco. The article states that Moelis hired those two bankers for its LA office, not from UBS LA. I never interviewed with UBS LA, so I don't know if they have any tech bankers there, but I did interview with UBS SF where they had most (if not all) of their tech bankers.
Nonetheless, UBS LA still has a reputation for working the hell out of its analysts, and historically, they have placed them well into PE, B-School, etc. I can't speak for how their placement will be 1+ years from now, but they still have a pretty solid reputation.
Webber and Joliet are both from UBS LA. Joliet was the head of the LA office and Webber was the global head of tech banking. UBS LA had approx 20 tech bankers recently.
-
They are revamping the analyst program there back to a generalist program.
Is that a bad thing?
-
http://in.reuters.com/article/governmentFilingsNews/idINN18419921200806…
Their tech team disintegrated a few years ago... We shouldn't really be surprised by this.. The golden era for UBS LA was over when Moelis left..
Is Moelis LA improving, or are they still doing relatively poorly?
Moelis is knocking it out of the park no matter how you look at it and no matter what office you look at. LA was never doing poorly, but with the old DLJ nucleus there (now hugely augmented with the arrival of Joliet and Webber in Tech) Moelis rightly focused on building out offices that are "must haves" namely New York and London. I've heard London has like 60 people and New York maybe over 200 now. They're definitely getting their share of top restructuring and M&A assignments, but i've also heard they've shown up as "advisors" on financings where they've gotten good fees as "co managers" on the the covers of good deals. Don't bet against Moelis and his old DLJ crew....they kicked as at DLJ and then put UBS on the map before UBS chickened out and realized it didn't want to play in the big leagues. ALL the top talent that was at UBS 5 years ago in New York, Hong Kong, London and LA is 100% gone.
Despite the fact that the previous post looks like a sales commercial, it has some sense of truth to it...
But I disagree on the point about UBS HK though, it's still going strong in Asia.
And in Europe.
Why is UBS LA so hyped up? (Originally Posted: 09/22/2006)
What is it about UBS LA that it is so hyped up? Is it their PE group or what?
I changed your title from all caps to title case. A minor bit of blog/forum etiquette.
Thanks, I'll be more careful next time
UBS LA does not have a PE group. There's two entire threads on this subject already, do a search.
UBS LA is hyped because of all the junk bond raiders that are now senior guys. These guys used to work for Milken out of DBL. They then went to DLJ in LA. When DLJ was bought out some jumped ship to UBS LA, otheres stayed at CS LA.
it is supposed to be hardcore. buy your question is accurate, and hyped is the key word
Hype insinuates there is some sort of exaggeration, or that there is less validity than there actually is. The fact of the matter is that UBS LA is sought after because of 100% placement into bn+ shops from their analyst program, which is a function of working with some of the most experienced bankers in the world of high yield and leveraged buyouts, getting your ass kicked day in and day out, and simultaneously developing the best modeling skills to transfer into PE.
And just to be clear, the Drexel/DLJ guys weren't "raiders" they were junk bond underwriters...
no, it is hyped
you cant, but it is hyped
there are many 100% placement groups
MS M&A, GS TMT...CS LA maybe...
I think the word you are looking for is "revered."
If you can provide examples of other groups you know for sure to be 100% in 1bn+ shops, I'd like to hear it...
I don't know ... we are talking 2 KKR + 1 bain / 7 analysts type of placement here. CS LA doesn't always place into non-LA based shops.
Modelling from scratch is another big bonus, 8 global heads, Moelis in the office.
More than that - I've heard people at UBS say the LA office accounts for up to 35% of UBS Ibanking related revenues- a lot for 75 people.
on top of that deal flow - NBC, Univision, Adelphia, Albertsons, Hilton all in the last year (outside of Adelphia).
One of the best Sponsors focused group on the street hands down.
-
UBS la has extremely good placement if you want to get into top PE shops
someone tell me about ubs la? (Originally Posted: 12/21/2006)
what is it? what is so great about it? is any group in los angeles that good?
Do a forum search.
did you know that they only hire graduates of swiss universities for positions in switzerland? they explicitly say that.
go to the search menu and type in UBS LA. The first thing that comes up is a pretty developed thread already.
Basics: - Several global heads there incl. President of UBS IBD Ken Moelis, Head of M&A, Media etc. - All from Drexel (prominent high yield house in the 80s) - Strong Modelling Exp and big deals (Adelphia, Univision, Harrah's) - PE Placement (2 KKR, Bain Cap, MDP, Ares, Apollo last year)
Hours tend to be rough however. Top group at UBS in terms of deal flow /prestige and often intensity.
would it be possible to do UBS la for a couple of years and go back to nyc, or does the prestige only carry on the west coast?
It carries.
UBS LA - Analyst Placement and Quality of Experience? (Originally Posted: 09/03/2009)
So, given ALL that's happened over the past couple of years, where does UBS LA's Tech office rank amongst the west coast offices, and more broadly, overall, in terms of Analyst exit opp placement and quality of experience while working there?
Also, what about the longevity of the office itself? Any info on whether UBS actually wants to KEEP the office in the mid-long term?
the silence is deafening.
Elite GMAT Tutors: //www.wallstreetoasis.com/page/one-on-one-gmat-prep Invite Monkeys Here: //www.wallstreetoasis.com/invite WSO Guides: //www.wallstreetoasis.com/wsoguides Follow WSO on Twitter: http://twitter.com/wallstreetoasis
WSO...I agree. UBS LA was a good office, but honestly I think they have like 5 or 6 analysts in the ENTIRE office (this should tell you something)
I imagine the op is asking because he read a post on M&I about it. Those were the old days when Moelis was there. NO ONE knows if they are going to keep the office or not, and if they did, you bet they would just be speculating.
bunch of analysts got laid off at the ubs office. i'm sure if you're lucky enough to survive, there are def. some solid exit opps. but as many ppl have said on this board, ubs la is a shell of its former self.
cs la is also a sweatshop. i know analysts that hate life right now.
Yeah, I am really just asking about how the Analysts have been faring, and how they have been doing lately in moving onto Private Equity...
I understand UBS is bruised and battered, and the LA office is hurting, but since Analysts only spend 2 years with UBS LA anyway, from an Analyst's perspective, it's all about career development/progression...not trying to be a career UBS banker...
they're downsizing a lot... 1/6 summer analysts in 08 got return offers.
source? This is not true. 4 out of 8 summer analysts received ft offers in 08
UBS LA - Still recruiting? (Originally Posted: 11/08/2009)
Hello,
Is UBS LA still recruiting, or is the process with them over?
Thanks!
process is done. all offers are handed out from what i know
UBS LA - Great exit opportunities? (Originally Posted: 07/03/2007)
What does everyone think of UBS LA after Moelis & co. have left? Do people think that it's still going to have great exit opportunities?
Been discussed. Do a search.
UBS LA - Views on the office? (Originally Posted: 09/17/2007)
Any views on this office?
it's going downhill?
use the search function, it has been talked about before.
that office still has top talent - there are something like 5 or 6 group heads in there office - tech, gaming, software, homebuilding, broadcasting, m&a, etc. i think it is still the largest bank in la too.
UBS LA - Specifically interested in fin. sponsors/media/entertainment (Originally Posted: 05/16/2011)
Hi everyone,
Long time reader but first time poster.
I know UBS is viewed unfavorably on this board, but have actually heard good things, at least for NY (analyst pay was pretty good last year, still big deals, etc....)
I was wondering how UBS LA is doing now, since I know it used to be "legendary." I am specifically interested in fin. sponsors/media/entertainment. Thanks in advance.
very interested as well
See: http://www.moelis.com/
good firm, good office. still got it although lots of ppl jumped ship. all in all ubs is still a great place to work no matter what trollers say in this forum. come back with more than 1 offer and we'll help you decide.
Thanks, I know Moelis and a lot of people left over the last 3-4 years so that's why I ask.
What groups are there?
UBS LA Culture? (Originally Posted: 10/08/2007)
I've always heard that UBS LA's culture is really intense, called a sweatshop sometimes. Could someone elaborate on some specific reasons why it has this reputation and if it is still valid?
Thanks
....
Read Monkey Business. A number of the characters in Monkey Business work(ed) in the UBS LA office. UBS LA picked up its culture straight from DLJ. Apparently, UBS LA runs a generalist program (similar to Goldman) and every analyst is expected to quickly learn how to handle and model every bank product and then juggle in depth work from every product. That, combined with the fact that the office has historically had massive deal flow, should probably answer your question about sweat shop work loads. As for personality culture, I've heard that people like to live large (frequent bottle service at A-list clubs etc)
bump
Thanks for the input. I can't believe any firm is still like the one described in Monkey Business.
Anyone else have any input?
Just imagine toning that WAY down to the level where no one is going to get sued. The point is, DLJ was known for being a bit "wild west", with fewer pretensions than the more white shoe firms.
Thanks for your insight. Is this "wild west" culture one of the reasons the analysts come out on top? I've heard they are placed quite well and gain a lot of responsibility early on.
UBS LA - Insights about this office? (Originally Posted: 12/10/2008)
Hey everyone, does anyone have any insights about this office, i heard rumors saying that they are closing this office, i just got a notice of cancellation for SA interview Tech group at UBS LA. What about the SF office, are they still doing ok, or UBS is just going downtown
yes any insight will be greatly appreciated.
They are still scheduled to come to my school in January. Their application period for SA is still open, but maybe they just haven't got around to shutting the door yet.
It is for my school to...but I have a feeling they will be shutting the door.
Canceled the generalist program. Fired all the third-years. One second-year left. I think there are now 6 or 7 first-years. This is for UBS LA, not UBS SF.
I can confirm that there is only one 2nd year left in the LA office. I have a friend that works for UBS.
"Fired all the third-years..." yeah all ONE of them, since there was only one. i find it hard to believe that they would shut down the tech practice in LA, esp since the global head of Tech banking sits there, as well as head of software, TMT M&A, and cleantech
So they killed off the generalist program completely?
one third year analyst, 4 of the 5 second years, and two first-years were laid off.
the first-years are now placed in specific groups.
My school's posting is for the generalist position. So now if they still recruit for summer interns will they just put them in specific gruops?
I received an invitation to LA office's winter reception for SA today. It took very long (2+ weeks after the deadline - during this period all the layoffs took place I guess) but I'd assume they won't shut down the entire office? I will probably find out more about the generalist program on 22nd, whether they will still have it or not.
They're not gonna shut down the entire office. They froze the generalist program (I think, skmssel, please inform us when you find out). Yeah, they fired most, if not all of the third years. FYI, I dunt work there, but I do work in LA
http://shipsnplanes.co.nr/ Ships & Planes
UBS IBD LA? (Originally Posted: 04/15/2011)
So I've read a lot about how UBS LA formally was a powerhouse for M&A. However, everyone seemed to have defected to Moelis.
Does UBS have any IBD presence in LA still? I ask because through networking I've met a guy who's in PWM for UBS in LA and seems pretty willing to help me out connection wise.
By the way, I'm set on wanting work in LA.
Any help would be great! Thanks!
.
there's no way anyone in PWM could get you a job in IB. what's his position there?
That is not true at all. They can definitely have connections to the IBank
Haha thanks for reading my other post. I'm anticipating being told what I've been told before -- IBD is the place to start.
He's a Private Wealth Advisor. I was hoping he'd give me HR direct contacts for the UBS IBD LA office -- I go to school in NYC so all the recruiting here seems to be for NYC positions/internships.
This is of course if IBD is where I should be, which hopefully will be answered in other threads :)
This whole finance thing is so crazy. Very glad I have you smart people, and this forum as a support system!
what year are you in school?
UBS LA IB is still around and doing well. Smaller office than in the past, but still one of the largest in LA. Maybe 30-something bankers? It's a generalist program again at the analyst and associate levels.
Definitely still has presence. Although lots of people jumped ship, it's still a great place to be. I know LA did this 2.5b buyside a month or so ago:
http://dealbook.nytimes.com/2011/03/10/cumulus-strikes-2-5-billion-deal…
thers media, fin sponsors, tech i think... thats all i know
I met a director from their IBD team couple months ago at a top club in Hollywood....seems like these guys are living the "bottles and models" life
Thats pretty cool - but were you hitting on well-dressed bankers as opposed to slutty broads?
Which club
I'm ending my sophomore year.
Thanks for all of your responses. Gonna hit this guy up and see if there's something he can do. I'd rather get in touch with HR for their LA office than nothing at all
UBS LA - Seems to be considered hardcore/prestigious (Originally Posted: 08/29/2006)
ive been reading some forum responses and UBS LA seems to be considered hardcore/ prestigious? can anyone explain what makes this division so good
There was an entire thread on this topic alone.
quick answer...roughly 5 or so global heads are stationed out in the LA office.
and they have had near 100% PE placement the last several years.
there are like ~8 more americas heads, president of the bank. All DLJ guys (from Drexel).
You can contact the LA office directly if you want to interview - analyst class is roughly 9 per year.
tough to get into without knowing someone...
thanks for the comments
not as hard if you have a finance / biz / accounting background. Generally hire at ugrad b-schools.
UVA, Michigan, Wharton, Berkeley kids will have an easy time getting an interview with the pre-requisite qualifications.
Other than that they would be looking at tier 1 ivies.
Target schools are pretty limited but doesnt hurt if you are at one of these programs to try to network your way in especially if you have a summer at a good investment bank.
Don't forget that the Richard Ivey School of Business at the University of Western Ontario is a target school (yes, Canadians).
Is UBS LA also very prestigious for S&T?
nt
Which colleges do they recruit at?
they also go to Stanford, UCLA, Berkeley.
This year they have analysts from Harvard, UVA as well.
I am a rising junior at harvard, interned at Lehman - want to jump to UBS LA.
If anyone has a contact number that'd be really helpful.
thanks
Wharton, Harvard, Ivey, and Michigan are core schools
Also recruit at Stanford, Berkeley, UCLA b/c of location, well Stanford is still top notch on west coast
nt
Would one of hte UBS recruiters, say Diane Brouillard, Warunee Maikoksoong etc handle the office or do they do their own recruiting?
Also, how many analysts and how hard is it to get into the office?
I am from UCLA with a 3.5 GPA summered at a smaller LA officE (think Lehman / JPM). Do I have a chance at UBS LA?
They also recruit from USC. As does the UBS San Francisco Office (mostly tech group)
They have never taken anyone before and only started this year and didn't like any of the candidates.
They most likely are not going to go back next year.
Thats bullshit. They haven't even reviewed (or even recieved) resumes yet from USC, because the submission deadline isn't until next week. Interview's aren't until the end of the month.
You are obviously just trying to bash USC.
They reviewed resumes there - interviewed candidates then didnt take any.
The guy that said we wont go to USC again is half right.
we interviewed for the summer and didn't like anyone - sf took two. We're going back for full time- but have a strong returning class so we'll see. USC is a good school but Michigan / Ivey / Wharton end up taking most of the spots. Obviously USC is given a fair chance.
Saying we won't go back again is kind of a bold and somewhat incorrect statement. If we get good candidates we'll go back.
to the associate/analyst at UBS LA:
Thanks for the clarification. Maybe you could help with a couple other questions i had. Do you have an idea of how many new full-time analysts your office is looking to hire? Also, which product/industry groups are the largest in the LA Office?
Thanks!
Does UBS LA take laterals, and if so, what sort of background do they ask for (generalist, M&A, LevFin/HY, Sponsors, etc.)?
Background depends on what group needs people.
Generally at the 3rd year analyst position and up or associate is where laterals enter.
Media is big in terms of deal size - univision, adelphia, all done out of the office
Financial Sponsors, M&A, Technology are the groups and all are quite strong and robust in terms of deal flow.
Recruiting wise - really depends on # of summers coming back.
I hear that place is like hell to work
the work is more interesting because they have BAs that do the research work, pib making, simple edits etc. so the work becomes more interesting.
Hours vary. They can be gruelling at some points but everyone is very laid back. Jeans and polo shirts are normal to see in the office.
Don't dismiss this group just because of what you hear - there are great opportunities coming out - go out and meet people and talk to them during events.
The culture has improved, majority of summmers now come back.
Does having BA's essentially eliminate a lot of the administrative work analysts have to do?
Can you pass of profile making, etc or do you still do that?
there is still some administrative work.
generally a BA can pull a lot of the profile infromation and you can just do the final formats (ie cut and paste into a template)
Severly reduces admin work. BA s get busy too just like pres gets busy - so sometimes you have to take a hit.
What's the culture at the UBS SF office? How many associates are they planning to take this year, esp for the Tech Group.
Good tech group - starting to gain a lot more traction. Lots of sponsors coverage out of some of the sub-groups in tech as well.
Associate wise not sure - not as prestigious as the LA office but a good experience.
Culture is good - more relaxed than LA for west coast.
v good PE placement out of UBS la, esp for top tier analysts going to firms with west-coast offices (KKR, LGP, ARES, AURORA, TPG, ETC.). tho, any PE job u land coming out of ubs la is more than earned after two years there. a gruelling shop, and no one will tell you differently. probably worth it tho.
lots of guys out of that office go to NY or Boston like Bain Capital, MDP, Warburg Pincus, DB Zweirn, Wasserstein to name a few.
Had a guy go to hong kong out of there a couple years back too.
Great shop - basically runs UBS.
lots of guys out of that office go to NY or Boston like Bain Capital, MDP, Warburg Pincus, DB Zweirn, Wasserstein to name a few.
Had a guy go to hong kong out of there a couple years back too.
Great shop - basically runs UBS.
Fugit et dicta officia excepturi. Iure possimus error aut dolorem aut ea voluptatem quis. Non quae veniam et quibusdam velit quia reiciendis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quidem quod repellendus odio. Et non eum nesciunt deserunt a non. Ut voluptas et dolorum ut repellendus sit. Odit vero corporis nulla cumque fugit molestiae vitae et.
Impedit quam tenetur reiciendis et ut facere dolores. Sed perspiciatis et facilis ratione dicta est eaque sint. Alias perspiciatis ex doloribus eum fuga. Fugiat praesentium laborum quia eos enim. Similique id repellendus porro ut voluptas qui accusamus.
Nobis ducimus tempore et quos ullam soluta. Consequuntur voluptatem modi deleniti voluptates fugit cum nemo. Sint adipisci quidem nesciunt iusto quae deserunt. Cupiditate amet tenetur quisquam ut. Qui sunt tenetur delectus itaque libero. Provident inventore rem voluptas.
Beatae est natus qui facere ut tempora. Quod et quod dolorem qui voluptatem magni possimus. Quis eum voluptas sed est rerum. Necessitatibus assumenda facilis est.
Quis iusto ea quae voluptate. Deserunt eligendi ullam consectetur eos. Veniam voluptatem fugit doloremque. Et omnis aut dolores nostrum quaerat. Quam nihil sit illum modi aliquid qui officiis laborum. Commodi similique ut et sunt nihil sit sed.
Quibusdam eius id accusamus modi modi. Nesciunt voluptatem voluptas sed sed iure. Deserunt iusto est natus possimus unde. Sed repudiandae et repudiandae id. Repellat hic sint quam voluptates veritatis. Quae ipsum recusandae illo nisi odio reprehenderit quo.
Ut voluptatem porro inventore error nostrum. Saepe velit voluptate distinctio. Laborum doloribus sit sapiente eaque. Culpa maiores ipsam voluptas vel libero voluptatem dicta dolores. Saepe fugiat itaque labore dolores nesciunt rerum. Dolores modi aut et dolorum. Inventore reiciendis illo nostrum et blanditiis sapiente adipisci.
Ullam excepturi qui labore recusandae quia optio impedit. Dolores laudantium nulla qui est. Aut et quidem consequatur voluptatem ut velit. Excepturi reiciendis molestiae ut quibusdam.
Qui distinctio expedita possimus quo. Qui alias cupiditate aperiam laborum. Dolores consequuntur occaecati distinctio. Et iste rem incidunt aut commodi rerum nam. Soluta aliquam et tempora cupiditate eos repellendus quam. Dolorum ipsam non eos fugit sit non esse laudantium.
Nihil fugit nihil voluptas odio culpa ut. Sapiente occaecati assumenda necessitatibus id consequatur quod doloribus praesentium. Hic quis vel aut labore sed beatae. Suscipit esse voluptas non est dolores facilis sed. Amet doloribus deleniti dolores laborum illum facilis vel.
Est repellat est tenetur sit et ut. Voluptatum molestiae inventore modi dolores voluptatem. Tempora sequi est minus temporibus voluptatem adipisci ut.
Accusantium quis quam voluptas aliquam qui quo maxime. Officiis saepe aspernatur aspernatur est.
Nemo velit officiis maiores enim. Placeat sed et asperiores ipsam. Delectus cumque incidunt modi tempora consequatur ut. Cum odit consequuntur voluptas est sunt. Eum consequuntur voluptatem voluptatum quos sint ut quis.
Et nihil sit repellat et ea ipsam. Neque ea consequatur est ut dolorem aliquid. Omnis eos iure illo laudantium blanditiis possimus.