UBS America's Making Rare Non-Barclays MD Hires
In perhaps the most shocking news of the UBS post-merger situation in America, the bank has finally started hiring people not straight from Barclays. This is way too late, as UBS has now effectively reverted to the pre-CS acquisitions level of deal flow; however, it is, in fact, a non-nepotistic hiring process. Three recent MD hires, all not from Barclays, including two BoFA tech guys and one from Stifel/Citi.
I am aware the bank is still very actively selectively hiring for seniors, but it's a good sign for the franchise that it's finally non-Barclays nepo hires, only took millions in guaranteed bonuses and the collapse of the TMT groups to figure that out.
Is Murphy a good hire? He's been all over the place it seems.
Not in the consumer space, so don't want to comment too much, but he was co-head of consumer products as per his LinkedIn at Citi for a while. Seems like a not great leader given firing post group head title bump, but has to be a competent MD to get to that stage at such a large bank. Don't believe he is coming in at a leadership role, so it should be a decent enough hire.
Will say UBS CR has dramatically improved since the merger, and the co-head is an absolute rockstar, CR hiring is probably good given the track record.
Hiring from Stifel just so pathetic
did anyone else hear the MD say the following during the deal summmary in this week's monday morning global meeting:
"this deal was a great example of UBS, CS, and Barclays bankers all coming together and delivering a fantastic outcome for our clients and bank"
I was shocked he was that honest.
please tell me someone else caught this
It's not a particular surprise that there is a 1:1 correlation between how weak a group's deal flow is and how many ex-Barclays people they have.
Incredibly tone deaf and sounds like collusion
Stunning and brave!
Sounds like former SW head at BofA now at Barclays hired a couple of his pals
Stifel guy used to work at Barclays and Lehman lmao. They are still nepo hiring
Jfc lmao
highly doubt they bring in dealflow... inside scoop
Juniors get paid peanuts and get horrible experience….
Fake grifter MDs who are already financially secure coast and rinse UBS for millions while doing nothing
It’s a glorified fraternity that tricked its school into giving it $100mm to spend
Heard one of the two Tech MDs is doing industrials tech. Pro: Tech juniors will make cred pages that aren't deals from 3+ years ago. Cons: the cred pages will solely contain LevFin and M&A activity in Industrials that you will somehow have to figure out a way to spin as tech.
Incoming SA here and had a couple questions:
Heard UBS Tech has been picking up some momentum lately with some ECM activity, and saw mentions on here about a large semis M&A deal they did as lead advisor. If I’m primarily interested in tech, does it make sense to go for UBS Tech for placement? Curious how it stacks up given some of the more hyped groups on this forum for UBS like Industrials, that seems to have seen a lot of turnover/layoffs.
For anyone at UBS, how have the new senior hiring been in Tech and have any of the older hires improved? Is the culture still cliquey/favoritsm to the Barclays people at the junior level? Trying to get a sense of whether the platform has actually improved or these are one-offs.
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