Is UBS no longer a Global Bulge Bracket bank? (M&A Deals in 2024 Averaging less than $1bn in size per FactSet)
$134bn Transaction Volume on 136 deals globally per FactSet (https://go.factset.com/hubfs/mergerstat_em/quarte…)
UBS now joins tier of banks with at least 50 global deals in 2024 with an average deal size between $750mm and $1bn:
- UBS
- Jefferies
- Moelis & Co.
- BNP Paribas SA
- The Toronto-Dominion Bank
- Macquarie Group
Based on the most helpful WSO content, UBS has experienced fluctuations in its M&A deal flow and overall market position. Here are some key points:
Given this information, while UBS has shown some positive trends and growth in certain areas, it has also faced challenges and competition from other banks. The bank's position as a global bulge bracket bank may not be as strong as it once was, but it remains a significant player in the industry.
Sources: Growth of UBS??, Growth of UBS??, What's up with the European banks and SA 2020? (UBS, DB, Barclays), is DB a BB?, 2020s Investment Banking Outlook
It’s news to u that UBS is no longer an EB?
Ye this is just further proof that WSO isn't fully reflective of recruiting or the wider street. The BBs were decided in the 2000s and the only change in recent years has just been CS + UBS merger. Headhunters still consider UBS a BB, and the wider prestige is just going to be pragmatically higher than banks like WF or RBC. Sucks for kids at those firms, but it is just what it is. Same thing for DB(but DB deal flow is even worse).
Edit: if you're defining criteria consider Moelis or even UBS at the same tier as TD and Macquarie Group, your criteria is simply not worth looking at.
"The end of Credit Suisse in 2023 means that it’s no longer on this list.
It also means that UBS, which acquired CS, is more firmly in the “bulge bracket bank” category, even though people sometimes debate its status."
From M&I:
https://mergersandinquisitions.com/bulge-bracket-banks/
UBS recent performance suggests it is behind RBC in volume and average deal size...
Look across 23-4, UBS still ranks higher. UBS was ranked higher than Barclays in M&A revenue last year, but we don't see people ranking it above Barclays for good reason. One-off years happen, and UBS remains stronger than RBC. Also important to note, that a lot of the deals that are out rn were the ones where the mandate was given in 2023 while UBS was actively restructuring/figuring out the acquisition of CS, and RBC had its strongest year, this is the equivalent of comparing a bank at it's best vs worst. The clients deciding who to give deals to didn't know if their UBS coverage banker would be there a year from now when deal would close, so 2024 numbers are heavily skewed against UBS. If we see a similar trend in 2025, I would give it more credence.
2023 data from WSJ for reference. UBS was above RBC and Barclays, but I think nobody (correctly so) was arguing UBS>Barclays because again looking at only a single year ignores a lot of context.
The combination with CS could have accidentally destroyed UBS from within, when upper mangement decided to hire Barclays to run it.
Banking is about momentum and deals beget deals, which they are clearly lagging. If I was a prospect I would be worried that they are currently #17 in US M&A deals.
(https://go.factset.com/hubfs/mergerstat_em/monthly/US-Flashwire-Monthly…)
Official Poll Announcement:
UBS Now Officially Classified as an Upper Middle Market (UMM) Firm
After a thorough and democratic process, the votes have spoken! With the poll surpassing the decisive 60% threshold, UBS is now officially recognized as an Upper Middle Market (UMM) firm. The community has made its stance clear, and as per our guidelines, this classification is now binding.
All further references to UBS should reflect this updated status, effective immediately. Congratulations to UBS for its new title and to everyone who participated in this monumental decision. Let the record show that the power of WSO democracy is real!
Poll Results:
Total votes: 47
Poll closed at 10:30PM on 10/23/2024. Note that no late votes will be counted.
Thank you for your engagement and participation. Please adjust your future discussions accordingly.
Compliance Department
Thanks, will update my notes and recruting strategy immediatly
Really hard hitting content here, I look forward to your next post
UMM for sure
2024 the year they lost it. 2025 is the year it’s confirmed
Yeah lets hope for the best!
Hope is not a strategy
2025 the year they lost it. 2026 the year someone else gets a chance to lose it
Seems like you are the same person who posted tech banking prestige ranking based on the average deal value?
UMM
And it’s gone
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