Incoming 2023 CS Analyst
What does this mean for us incoming CS IB Analysts in NYC (Summer of 2023)? What does UBS want to do with us if we are in a relatively strong product group at CS?
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I don't think anyone knows at this point...The only things that has been said by UBS management is this: "Let me be very specific on this: UBS intends to downsize Credit Suisse’s investment banking business and align it with our conservative risk culture". A downsizing is going to involve a number of reductions but will most likely features some form of headcount elimination. My guess is a lot of satellite offices will go (LA, SF etc) as UBS has been actively trying to reduce their IB presence out of non NY locations Seems like they are hopeful to have this all decided by end of Q2. I would like to say you're in a better position than current CS FT people, but I don't know the accuracy of this (please take with grain of salt).
What does it mean for my Credit Suisse diversity program?
UBS Steps to Success: Explore :(((
Start applying to other places. You have your CS offer, try to leverage that, and if things work out with UBS, you'll be good.
As above poster said, the UBS chairman said that along with "Wealth and Asset management focus is what our shareholders like to see." UBS has been trimming their IB recently as well, so I can see them doing the same with CS. The chance of a spinoff is very much diminished. CS FT workers might suffer, and these are employees with kids and mortgages. You are still young and can leverage that offer so try to start doing that.
Is anywhere still open? Assuming BB's and boutiques have had classes nailed down for months now, would you just recommend emailing smaller firms?
You're probably right, but give it a try. Reach out wherever you can and be honest about the CS offer. Regardless of what ppl say, that's a tough offer to get so it'll show recruiters and bankers you are a serious candidate with the skills and knowledge to work in IB.
Echoing what others have said, make no mistake that a CS offer is not an easy thing to achieve in the slightest. You're a qualified individual, use that offer and keep it on your resume to show that circumstances beyond your control have put you in the position you're in.
Best of luck.
What would you say is a good way to keep it on my resume?
.
It all depends on whether or not they rescind your offer or not.
For now, I'd recommend putting a bullet point up on the top saying you received an offer to return FT.
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