UBS Advisory Shrunk 12% Over 5 years, Despite CS Acquisition
Inflation adjusted shrinkage of 12% in 5 years with hundreds of millions in spending is some nasty work.
2021: 22% Inflation since then
2026:
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Life Imitates art:
Just spin that shit out already, wasting everyone’s time and money
Total waste of human capital
It’s a train wreck, if you were to do other banks I’d bet it’s like double over 5 years
Numbers from Claude but that appears to be the case
Great data, I bet Wells looks crazy too. Just a crazy consolidation of the industry sucking the air out of mediocre platforms like UBS
Wouldn’t it be more appropriate to look at Q1-
Actually nevermind it’s not worth it
The banker in you wants to find the one quarter that could reverse that narrative. Good luck!
The Hawks almost won the second half last night.
derivatives trading keeping global banking afloat
imagine grinding 100 hour weeks… only to end up with these lackluster results
The only worth thing than a 100 hr week working on a deal… is a 100 hr week working on a fake bake-off your bank wasn’t invited to that seniors are doing for vanity purposes
Congrats on fake bake-off!
Congrats on UBS!
Trust the plan. #6 in the Americas soon.
More like almost #26 soon
How the fuck does this happen???
Back to Back failed rebuilds orchestrated the first time by Karofsky (now on short list for CEO) and Marco (now Global Banking head)
Talk about failing up
how do you stay as global banking head when the results are this bad?
Hiring low capable, high ego people
UBS said they had a goal of getting to #6. As stated they will more likely be #26.
Wells Fargo is destined to be #6 in the medium term (asset cap lifted, massive hiring of actual quality bankers) once they pass Barclays. UBS has no chance of being in the top 10 in Americas M&A ever again. CS Merger and Barclays hires both a huge negative ROI at least within GB.
UBS would be forced to shut down GB at this point if it was standalone. Their losses get subsidized by Wealth Management and Markets.
UBS GB standalone would bankrupt itself so no way it gets acquired. It just dies a slow death.
Didn’t they double MD count? This is insane
the level of bullshit is just hard to believe
Also these are global IB numbers right? Wouldn’t the Americas be even worse?
That is correct Sir. They don’t release them but I’d bet they had about ~$50M this quarter
UBS sucks trust me.
guys this is not good - my theory is working 5 days a week in office makes advisory revenue go down.
Think about it. Q1’25 and Q4’25 were higher. that’s because analysts were working from home on Fridays.
Q1’26 was the first partial quarter analysts had to be in office 5 days a week, so revenue is down. In Q2’26, it will be the first full quarter showing the impact of analysts working in office on Fridays - so it won’t be pretty.
And you’re a senior reading this, S my D
so true bestie
Good news: MDs on guarantees got crazy pay, new mansions, car collections and lavish second homes
Bad news: Juniors got crushed and misled
Imagine sucking at your job and being a net negative… but getting paid enough to buy a $5M westchester house.
Meanwhile, analysts are expected to work 100 hour weeks and destroy their health, while simultaneously not getting paid enough to afford a studio apartment
If you land deals as an MD, congrats you are doing well in bringing in deals.
If you don’t land deals as an MD, wow my team sucks I can’t even get the footnotes right! With such little support, and lack of their detailed insightful analysis, I can never source a deal!
We need big leaders with big cannons
Glad I left UBS for PE
Congrats on leaving UBS!
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