What does everyone think about getting into European ibanks right now (Deutsche Bank, Credit Suisse, UBS, Barclays, RBS, HSBC)? Suppose Greece exits the Eurozone, do you think many of these banks will be exposed either directly (bad loans leading to write downs) or indirectly (broader European collapse that affects everyone, maybe even US and Canadian banks)?
I heard UBS and DB are struggling now and are divesting heavily. If anyone remembers 2008 you'll know that sweeping cuts can put many people on the street just like that.
UBS and Barclays have already gone through strategic changes at this point (lumping certain assets into their non-core group, and eventually exiting said assets/businesses). DB is going through that process now.
When you say "getting into" are you saying investing in or getting a job at?
DB has made it clear. Less people in FICC, more in advisory.
This post couldn't be more misinformed..... all the Euro banks have been doing particularly well this past year, even better than the prior two years, especially UBS and CS. RBS is obviously having its issues, and DB is cutting FICC (just as every bank is). The bigger Euro banks have already done this which is (maybe?) what you were referring to, but FICC has nothing to do with traditional investment banking advisory... all the American banks will be following suit in the near future if they have not done so already
"Getting into" as in becoming an employer of their investment banking division.
So you guys are saying there's no exposure to European economic issues and Greek debt? Just to the extent it would impact IBD obviously (and many things can, like bad asset write downs, rogue traders, and regulatory issues due to fixing of LIBOR rates). Just wondering. In the US there's definitely a resurgence of local banks and emergence of local boutiques at the expense of certain European groups.
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