UBS IB outlook

Strong Q1 2025 so far, 9th as per Deal Logic in the US and much stronger than 2024, where they finished the year 14th. Seems like deal flow is very group-dependent from the threads in this forum, with the bulk of the M&A flow being from sponsors and with the only corporate stuff coming from Industrials things. Strong LevFin franchise.

With all that being said, it seems like, at best, a very top-heavy franchise and, at worst, a declining one that is losing market share rapidly in everything but a few sectors. One thing is for sure/agreed upon by everyone on this forum: the Barclays hires haven't worked out, and the bank is absurdly top heavy in terms of groups. Cannot comment on the actual future, and by all accounts opinions on WSO are all negative; I don't think I have seen a single positive comment suggesting those commenting on WSO are disgruntled employees. The UBS Tech thread is very long and shows that the hate seems very justified, seems like an absolute shit hole of toxic culture and deal flow. With that being said, I'm not sure the data supports the claim that the entire bank has no deal flow; it suggests that the bank is very top heavy group wise.