How would a potential CS+UBS merger impact the CS internship program?
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Also didn’t have the word count to follow up but wanted to say obviously this whole situation is much bigger than my internship, but I can’t help but think how this would impact my internship, especially with it being around 2 1/2 months out.
The real answer is that it's impossible to know - you will have to wait and see what you hear. It's unclear what UBS will be keeping from CS' investment bank/markets units, but it seems like a lot of the markets biz is going to be "noncore".
The deal is expected to close in the second quarter, so very real chance CS does not exist standalone when your internship is scheduled to start.
It would be prudent to think about backup internships now - I don't think anyone will fault you for looking at alternatives given everything that's happened.
Honestly, it’s likely that the internship program will proceed as planned, however the amount of offers being given will likely be much lower than initially intended. No one will know the true number of people taken, but it could go down drastically.
I think anyone smart will be recruiting as a backup in case they don’t get an offer (or in case you don’t want to stay).
Good luck!!!
UBS plans to close the deal by Q2 23 - which would fall in the middle of any summer internships. I can't imagine the combined entity would be large enough to absorb all of the CS Securities Research interns.
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