More UBS Departures to Santander, Wells
Joe Palombini is going to Santander and Colin Grady is going to Wells Fargo. The UBS sinking ship continues…..
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CS is Dead, long live the king
Its crazy how many people have quit in the last two months. Every day I hear about someone else that has quit
omg why are they leaving? :(
MV is the best and we love Barclays
People have been saying for the last year that UBS is cooked. They were premature.
Now UBS is actually cooked. If LFO / FSG arent running on full cylinders we have 0 chance at doing decently.
And the former head of M&A also just left. The re org between M&A and FSG will cause even more departures
My advice is if you’re at UBS GB in the US is to start interviewing asap. The bonus pool this year is gonna be worse than its ever been, and tons of people will be getting 0s
del
Wow it just never gets better does it lol
It’s almost like everyone without a guarantee, or expiring guarantee is leaving, can’t be a good sign
del
Senior VP in CorpDev genuine question for you, are you running a L/S fund with a massive short on UBS? If not, what are you doing with your life stalking UBS 24/7 on these forums? It is genuinely sad that your name is on almost every single UBS-related post for the last 8+ months.
Your view is completely inaccurate, btw. Sponsors are not combining with M&A, there is zero change to headcount, and there is no functional day to day change resulting from any of the recent announcements. If you knew anything about UBS you would know this move was more about reporting lines / dissolving the "Alternative Capital Group" and giving a new figurehead to sit over FSG (since its such a small team it doesn't make sense to fully exist on its own, EXACTLY like Private Funds who nobody seems to talk about). Neither sponsors nor levfin is remotely impacted by this reshuffle. It just creates a new set of heads that will roll in 2-3 years if they don't see results.
The only departure from sponsors was Grady who was LA office (and, again, anyone who actually knows UBS knows the LA office was essentially its own island). Unsurprising that he left post-CS merger and the uncertainty with how that LA team fed into levfin and/or sponsors (it operates differently from both of those groups in NYC).
Please, find something better to do with your time than stalk UBS and fear monger. If UBS were an ex, they 100% would have filed for a restraining order by now.
Thanks, helpful to know! Super hard to know how much of these posts are fear-mongering vs not when it comes to someone who's joining soon, given how many different negative UBS posters there are. Hopefully UBS experience is a good one, and I can get some solid deal experience to start my career.
I think he/she was posting as ED something before and still posting about UBS. Just feel like he’s trying to prove something with these long explanations. Must be so insufferable to be a junior under him/her and have to sit through one of these long lectures
Imagine how bad things have to be that Wells and Santander are better than staying…
Wells Fargo is paradise
A few strong analysts manage to lateral into PE
Any idea on how exits are at the UBS top groups or at least groups with flow now? I heard UMM exits weren't out of the norm in previous years, but wondering what it looks like right now. Also curious as to what the bullpen opinion is on job security or if it makes sense for incoming analysts to look to leave as soon as possible.
Little job security and worse exits
exits are really bad
Is this confirmed anywhere or just a rumor?
Bloomberg reported it
Is the UBS LA office going to close? Am set to join there in August
Think Colin Grady was the main rainmaker there, and given that most fees for the office are Sponsor's group-based, days might be limited for the office. Would either get laid off or moved to a different location and/or group.
You’re fine. They will probably bring the whole office over to Wells, and UBS will want to keep whomever stays because it’s a lev fin execution powerhouse shop for the bank
SAN LFO is basically CS LFO now. How come UBS lost all the good ones from CS like this?
It started when UBS couldn't keep Rob Santangelo (energy) and he brought his crew over
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