Every bank under the sun involved and UBS is standing there holding its dick.
Lazard Inc. is NextEra’s lead financial adviser on the Dominion deal and Bank of America Corp. and Wells Fargo & Co. are also financial advisers, while Kirkland & Ellis LLP is its legal counsel. Goldman Sachs Group Inc. and JPMorgan Chase & Co. are Dominion’s co-financial advisers and McGuire Woods LLP is legal counsel.
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How is this “every bank under the sun”? You listed less than half a dozen banks when there are like 2 dozen solid firms out there. Not saying UBS is in a great spot but this post would imply Evercore is crap too since they’re not on the deal?
Agreed. Given UBS divested from energy banking years ago, it would make even less sense for them to be on this deal. JPM, GS, BofA all make sense. Surprised Evercore missed out though.
No one hates UBS more than me, but this just seems like bait
Based on the most helpful WSO content, UBS has been notably absent from some major deals, as highlighted in discussions. While other banks like Lazard, Bank of America, Wells Fargo, Goldman Sachs, and JPMorgan are actively involved in high-profile transactions, UBS seems to be struggling to secure a significant role in such deals. This aligns with observations that UBS has faced challenges in its M&A advisory rankings, such as being ranked around 30th in M&A advisory fees in 2022. However, UBS has shown stronger performance in regions like EMEA and APAC, which might explain its focus away from certain U.S.-centric deals.
Sources: UBS layoffs, What's going on in Citi Houston??, Credit Sussie and UBS weigh merger, Who Doesn't Love a Contradiction? | The Daily Peel | 3/20/23, CS-UBS close
Congrats on hating ubs!
UBS and DB left Houston long ago lol
If it’s over $1bn, you’d be hard pressed to find UBS on the deal
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