Despite CS Acquisition, UBS IB now performing at 2022 Levels (with Data)
UBS IB mismanaged a fantastic opportunity, and declines to pre-CS and pre Marco league table standings. They have not meaningfully improved despite a CS acquisition and ~$100M+ investment in bringing over new US Bankers.
https://www.lseg.com/en/data-analytics/products/deals-intelligence/glob…
Rankings:
Global IB Fees
2022 CS+UBS: 6 (CS: 7, UBS: 21)
2023: 7
2024 1H: 11
2024: 12
2025Q1: 14
Global M&A
2022: CS+UBS: 6 (CS: 12, UBS: 14)
2023: 9
2024 1H: 10
2024: 13
2025 Q1: 14
Americas Fees:
2022 CS+UBS: >= 8 (CS: 8, UBS: Unranked)
2023: 11
2024 1H: 14
2024: 15
2025Q1: Unranked
Seems like the decline continues and they haven’t bottomed out yet
From a pure ROI perspective UBS might of been better if it weren’t for the CS acquisition and if it were for better talent management, being smarter about which MDs they brought in
Making the right hires in the right growth areas is critical to the firms performance
Most overhyped platform
Number 1 banking platform that starts with the letter U
If you hire leaders that are close to retirement who cant really source well themselves… well this is what you are going to get
When you hire a bunch of bankers from the same friend group (Barclays gang), you get dozens of redundant client relationships
Especially when you got the weaker ones
You guys are so negative.. I think MV has done a great job
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Based on what data has he done well?
On a PF seasonality-adjusted league table where we only show days where Walgreens got acquired, UBS is top 5 in M&A in the Americas
What are you guys doing? we should keep lying to everyone about how great the platform is in a pseudo pyramid scheme
Marco on the hot seat yet?
Sergio can’t be thrilled
Sergio is ready to retire anyways. New CEOs problem to fix
what about their WM business king
This. You will need to factor in their WM / Trading as well, but the stats do show that their IB merger is not doing well…
If UBS wants to fix things, bring back Harold Bogle (CS)
New capital rules if put in to effect will abaolutely cook us. Wells Fargo is on the up and UBS is on the down.
UBS back to being a "BB" after all the hope. At least legacy UBS was good culture, now even that's gone(yes IK not every group has bad culture but a lot of them do). UBS back to being the undisputed bottom 2 historically considered BB, hopes of surpassing Barclays is surely gone. It's still obviously a better place to start your career than vast majority of college outcomes but looks like hopes of being significantly stronger at least in IB is false.
Think CS deal ultimately still a W for firm/shareholders given the WM asset growth, but the IB growth clearly hasn't gone accordingly. MV replacement incoming in the next year or two. Americas is a natural growth area for the firm as it's much stronger in Asia+Europe compared to America, but will be interesting to see how much further is invested in Americas IB in specific.
Many of the IB groups could move to Anchorage and they’d be just as as profitable there, actually more profitable since their cost basis would go down and their revenue would still be very low
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