Efinancialcareers article:
MV reigns supreme at UBS. Two years after joining the bank from Barclays, UBS announced yesterday that it has promoted MV, an Italian who was hired in 2023 as global co-head of banking alongside JO, as the sole global head of the banking business. JO - who wants to relocate to Madrid next year - is stepping down and becoming chair of global banking instead.
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Javier knew to get out of leadership so he isnt blamed for the coming collapse and long winter. A move to keep his legacy intact.
Marco meanwhile has wasted 2.5 years destroying the bank while getting his buddies paid. Not a meritocracy at all which is why so many MDs have left This year. UBS GB is beyond saving.
I think JO dipped so he wouldn’t get stuck holding the bag… MV’s reign is a textbook case of how to run a bank into the ground while lining your friends’ pockets. UBS loves to pretend it’s a meritocracy, but the revolving door of MD departures says it all. People with options don’t stick around for a sinking ship with the GB being a cautionary tale in how to torch a franchise
UBS stock is on a tear this year. As it turns out, the performance of Americas IB isn’t that financially consequential. If they didn’t think MV was doing an acceptable job, he would be out the door already - and, as others on this forum have pointed out, the bottom line wouldn’t even change that much.
But let’s snap back to reality instead: MV is now the king and UBS (and its stakeholders) view Americas IB as a medium term growth area.
It’s far from a perfect junior experience, but the WLB seems good and at least you don’t have to worry about McKinsey consultants poring over performance review data to arrange the next round of RIFs.
How was no one at any of the BBs available for the role? Give me a group head from a BB over him
Idk how you could get worse after acquiring a BB but here you go
One day there will be an HBS case study highlighting the current mismanagement. Making every mistake in the book.
Doesn’t need to cure cancer, just needs to stop bleeding market share and talent
King MV!
Marco Valla's story is pretty interesting. worked under him at Barclays:
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