Just saw on Bloomberg that CS and UBS are weighing a potential merger. Could be full bank, or just back office.
Dunno if anyone who works there could shed some light on this or if they heard anything.
Also wonder what's every ones thoughts on how this would affect positions/market.
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Haven’t heard anything but there was always talks to merge UBS with some other bank (whole/just IB). I don’t think it’ll happen.
Just got out of a board meeting with Axl and Sergio. Pretty strong chance this happens. Everyone is on board.
Well there goes a lot of jobs and offers
Think of all Ubs people that can claim they work at credit Suisse now. Huge lateral up for them.
That's what I was thinking... seems a bit dilutive to CS's brand value
The combined entity would keep the UBS name and the Credit Suisse name would dissapear. UBS current chairman and CEO would lead the combined company, which again would be named UBS. I know that this is predominantly an IB focused site, but you have to remember that for the swiss and for these two companies, wealth management is their main focus and strongest business. UBS is the world's largest wealth manager, so they would want to keep the name. Also did a quick stock lookup, and UBS's market cap is nearly twice the size of UBS. Not sure if this is a merger or more or an acquisition by UBS.
I'm just panicking thinking about all the "Updated IB Rankings" following this merger.
God save us from that.
PF merger adjusted UBS/CS ranking
Took CS for the exit opps... now i'm afraid they'll be heavily diluted by UBS
What if they merge and become UBCS. Everyone will give them the nickname unlucky broke c*** suckers :/
I heard from the CEO of CS that they'll actually be laying off all incoming CS analysts now that they have superior UBS analysts so I don't think you'll need to worry about exit opps or dilution after all :)
How would this impact the IB division at UBS or CS? Would interns or junior bankers at either banks lose their jobs?
Apparently 15,000 jobs are at risk if merger goes through
How many FO jobs though
Should incoming summer analysts plan on re-recruiting?
Nothings for certain but i wouldn't be surprised if shit hits the fan considering how 2020 has been going.
Bump
UBS talks with DB fizzled not too long ago, so not expecting much myself
This was not for the entire companies or for the banks. The UBS/DB merger talks were to merge the DB asset management subsidiary (named DWS) with UBS Asset Management. It would have been a merger of equals, but both companies had disagreements who would control the combined asset manager so things broke off. These current talks are much more advanced and at a bigger scale with actually combining the entire banks, not just the asset managers.
https://www.google.com/amp/s/www.forbes.com/sites/greatspeculations/201…
How do exit ops at UBCS compare to RBC/DB?? /s
Hilarious that people think UBS dilutes the brand value of CS. Both banks prioritize wealth management over investment banking, and UBS is stronger here.
Don't understand why it would be hilarious/illogical. People here are focused on investment banking (not wealth management), and CS is clearly stronger here.
I'd argue top groups at UBS are on par with top groups at CS...
Haven't you heard bro? CEOs and CFOs hire investment banks based on prestige. Hopefully the MDs get superdays at top tier banks!
Would it be acceptable to change my linkedin status from "incoming ubs IB analyst" to "incoming credit Suisse IB analyst"? Want to make sure I get access to all the superior buyside headhunters.
Might finally improve UBS’ levfin practice...
UBS just needs management that wants to grow IB. Literally operates like a boutique which makes no sense
love me some Credit Sweets nom nom nom
Both have dying IB divisions so I guess its a good match.
I heard on bloomberg that they're trying to streamline their back office operations to cut costs. I can only assume that the job cuts would affect the back-office a lot more- to everyone asking about lay-offs.
Whenever two companies come together there is always overlap. For banking, they wouldn't have two groups covering the exact same companies.
Ironic that a forum for M&A have people only focus on brand equity in this transaction. UBS has outperformed CS in terms of revenue growth, net income, operating margin, RoA, stock, etc etc. in the last few years. This merger has absolutely nothing to do with how well their NYC analysts will recruit for buy side.
I kinda doubt this will happen tbh. It seems like they have just brought it up as a strategic option for the long term, but I am sure they have a bunch of other strategic alternatives they are considering as well. M&A is often a part of these discussions and I imagine CS would make the most sense for UBS if they wanted to expand by merger of equals.
my ex girlfriend works in the back office at UBS, I hope this creates 'redundancies'
Tons of synergies, home offices in Zurich are literally across the street from each other. UBS has very strong ER platform and combined capital markets would be strong. UBS Wealth Mgmt. with CS = wealth monopoly. Both IB's are weak but together will have a much bigger balance sheet to work with so they can finally run a competitive investment bank, consolidate back office in Switzerland and the U.S.
Only way they can truly compete on the same level as the U.S. bulges
I don't think they want to compete with the US bulges in IB; both companies individually have been very explicit about moving away from this competition. They want to merge and reduce costs while ideally retaining the best athletes. They want to improve RORWAs via their combined wealth and asset management business, so they are not going to double down on the IB strategy.
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