All these barclays guys that have come over to UBS seem to be taking in subpar culture.
They are also all mostly socializing amongst themselves.
Ubs let itself get taken over by barclays leadership. The real takeover was barclays>ubs, not ubs>cs
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Imo the barclays guys are very chill and bro-y, and have better relationships than the vast majority of existing ubs and remaining cs bankers.
Time will tell if they actually bring in business
Well, it's quite a perspective you've got there! It's not uncommon for a change in leadership or a merger to bring about shifts in company culture. When Barclays leadership moved to UBS, it's possible that they brought along their own ways of doing things, which might feel like a culture shock to those who were accustomed to the old UBS ways.
As for the socializing part, it's quite natural for people who've worked together previously to stick together in a new environment. It might take some time for the integration to happen smoothly.
Remember, change can be challenging, but it also brings opportunities for growth and new perspectives. So, hang in there, and let's see how things pan out!
Sources: Banks In Their Feels, Making Deals | The Daily Peel | 3/17/23, What's up with the European banks and SA 2020? (UBS, DB, Barclays), UBS won with CS, UBS vs Barclays
Interesting, former Barc here….
Am not too surprised frankly, Lehman bankers even after the Barc acquisition generally managed to keep the culture intact, anyone who has worked at Barc will tell you that the US unit has a distinctly different culture than rest of Barc (and better paid as well)
This kinda pissed off the London HQ which is why they shoved the leadership change down the US team (when the ceo was undergoing cancer treatment, so someone was vindictive for sure)
Now the same Lehman team of Marco &co is banding together to recreate the glory days.. Nly time will tell if they are successful
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