UBS IB is a Mess, Outside Top 20 in Americas, drops to 13th Globally
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To think they were 7th Globally and 11th in the Americas just two years ago in 2023
UBS has never prioritized their IB, all of the growing the IB banter was just a marketing ploy since they weren’t going out there and spending on true rainmakers
Those making all those hiring decisions appear to be out over their skis
How to higher the greatest number of MDs on a budget was the plan, which means low balling MDs who are unhappy and underperforming elsewhere so they could also underperform at UBS
They’ve hired a bunch of guys too, not sure why they are in such a funk
Maybe they need to start hiring actual rainmakers
Anyone know how many MDs they’ve actually hired?
Marco is retarded is the most plausible explanation
Side note but anyone know wtf is happening with LAZ? -15% in a year where almost everyone else is up is mind boggling
bump
Did not expect Jefferies and TD to 2x UBS in the Americas, wild times
“InCrEdIbLe MoMeNtUm”
Glad we have another one of these
The weekly UBS shitting thread. They never get old.
They get old
Truist will acquire them and change the name again
Truist is the better platform in the Americas
Won’t lie, Truist seems to be getting a footing outside of their traditional LevFin platform. Will be interesting to see what moves they attempt to make, I know they are trying to expand their corporate banking side to leverage their balance sheet.
I wonder how they would look to expand by acquisition? What firms they could possibly target?
The actual fees reported on the league tables are off bc/ majority of UBS deals are private/sponsor driven so fees/deal size are not made public. Best proxy is to look at the actual financial statements.
Is it a bad idea now to apply to ubs for lateral openings in the U.S?
(FT) UBS boss Sergio Ermotti plans to step down in April 2027
Race for coveted role comes as bank fights Swiss government over threat of more stringent capital buffers
UBS chief executive Sergio Ermotti is planning to step down in April 2027, firing the starting gun on the race for one of the biggest jobs in global banking.
Ermotti, who returned to run UBS in 2023 following its state-orchestrated takeover of Credit Suisse, intends to leave after leading the integration of the two lenders, people familiar with the matter have told the FT.
The 65-year-old is preparing to depart at a crucial time for UBS as it fights Swiss government plans to tighten its capital requirements, a dispute that has fuelled speculation that Switzerland’s biggest lender could move its headquarters abroad.
Ermotti was parachuted into the top job at UBS — a role he previously held for nine years until 2020 — by chair Colm Kelleher just weeks after it agreed to rescue its former rival from the brink of collapse.
The timetable for Ermotti’s departure around the time of its annual general meeting next year will kick off the succession race in earnest for one of the most coveted roles in banking.
Aleksandar Ivanovic, UBS’s asset management chief, has emerged as one of the executives most likely to succeed Ermotti, according to people familiar with the matter.
Ivanovic, a Swiss national who was elevated to the group’s executive board in March 2024, is the latest executive to emerge as a contender, having impressed the bank’s management in running its asset management division, the people familiar with the matter said.
The other leading candidates were UBS’s wealth management co-heads Iqbal Khan and Robert Karofsky, the people added. Bea Martin, who was announced as the bank’s chief operating officer in October, is also seen as a contender.
The timeline for Ermotti’s exit had not yet been finalised by UBS’s board, another person said, meaning his leaving date could still change.
Ermotti committed to spending three to five years as chief executive when he returned in 2023, the FT previously reported. He was tasked with overseeing the complex integration of Credit Suisse and developing a growth strategy for the combined group, as well as nurturing a pool of successors.
The integration, which saw UBS inherit Credit Suisse’s litany of regulatory and legal problems, has mostly gone smoothly and the bank’s share price has doubled during Ermotti’s tenure.
But his second stint in charge has been overshadowed by a public dispute with the Swiss government over its plan to increase UBS’s capital requirements by about $24bn, which analysts and investors have said has weighed on its share price.
UBS said on Monday that the proposals would “jeopardise” its success. Implementing the reforms, which could be finalised before Ermotti is replaced, will be at the top of the new boss’s in-tray.
Kelleher, who is overseeing the succession, is looking to follow the example of his former employer Morgan Stanley, which had several internal candidates to choose from when longtime chief James Gorman stepped down in 2023. Kelleher previously described the Wall Street lender’s succession as a “bloodless coup”, which he hoped to emulate.
Khan, a former Credit Suisse executive, has long been viewed as the most likely successor to Ermotti. He joined UBS after clashing with his former employer and its boss Tidjane Thiam, alleging that the lender had hired private detectives who chased him through Zurich.
Khan, who later reached a settlement with Credit Suisse, moved to Hong Kong in 2024 to become UBS’s head of Asia-Pacific. Then-investment bank chief Karofsky was appointed as head of the Americas at the same time.
Martin was recently promoted to chief operating officer after leading UBS’s non-core and legacy unit, which handles winding down and disposing of unwanted parts of Credit Suisse.
Ermotti indicated in 2024 that he would step down as chief executive at the end of this year or early 2027. People familiar with the matter said he could potentially return as the bank’s chair in future if he wanted the role.
Ermotti was paid SFr14.9mn ($18.7mn) for 2024, making him Europe’s best-paid bank CEO that year.
UBS declined to comment.
https://giftarticle.ft.com/giftarticle/actions/redeem/15c61869-5e0b-44c2-9e5d-87213444cb7f
The Fatal Attraction nature of these UBS posts is hysterical. The girl broke up w you and you will go to your grave with seething anger.
"I will not be ignored!"
Analyst 2 in IB - Gen
hey Marco, go do your job and make UBS great again. If you can’t, they will find a competent replacement for you very soon.
DB looks like its doing much better compared to recent years
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