Leading LevFin practice (#1 in sponsor backed LBO activity), GIG closing $1B+ deals and lots of live activity even in a down market. M&A getting better from a junior POV etc. etc.
Can we stop the UBS hatred? No it’s not Goldman, but it’s better than all these other banks and it’s definitely not as bad as WSO makes it out to seem, especially due to its strong relationships with sponsors
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Are you trying to convince us or yourself?
Please get a life there's a disgusting amount of threads on UBS every single week / month. No one actually cares anymore. Everyone is aware of what's going on.
Trust me, i know (and have been noticing it over the past few months like everyone else). The goal is to generate actual dialogue on the bank and on groups other than ones like tech that get the lion's share of coverage. Most content is coming from the same like three users lol
UBS Propagnda arm is out on the loose
lmao
Nice try Marco
I don't think anyone claimed UBS has no good groups... M&A is not getting better from a junior perspective; it's still a hellhole of toxicity, and there have been a lot of juniors and seniors laid off. Also of note: the LevFin markets remain dead, so the main source of UBS flow is dead. Industrials have been strong for the past year and have won a lot of mandates on the sell + buy-side, but also haven't closed any large-cap in a month or two.
I think the complaints remain largely fair. Just like having selectively good groups doesn't make a bank as a whole good, having selectively bad groups doesn't make the bank as a whole bad. Yes, the whole bank isn't as bad as tech, but the entire bank isn't also as good as Industrials. UBS is a mid-tier BB and a no-name MM all rolled into one bank at this point.
Interesting to hear about M&A, from my understanding the CS AN2 class put in a lot of effort to change some of the legacy UBS culture (way more openness / support for buyside recruiting, more control over staffing requests, greater emphasis on training 'technical' skills all stick out as the biggest examples). Definitely sounds like the analyst experience varies dramatically within the group, what do you mean by 'toxic' as opposed to sweaty?
LevFin and Industrials commentary also makes sense, and will be interesting to see how they navigate the LevFin downturn. They were killing it early this year though (lead on Sycamore / Walgreens, Celcius / Alani and more).
Unsure if most of complaints are "fair". They vary wildly but recently the majority of it on WSO has been extreme and shitposting which crowds out useful insight on groups... Regardless appreciate the perspective as well as your comment on the other post about sponsors; the goal was to get more concrete information on the more solid groups (Sponsors, Industrials, LevFin, Consumer) as information on them is meager compared to the weaker ones.
“#1 in sponsor backed LBO activity”
Is false per LSEG i.e. real data
This doesn't filter or represent single B issuance or Sponsor backed LBO financings, but it could be the case that they're not #1. Independent of that I don't think just the league tables are a good representation of what makes a 'good' group...
From my understanding UBS LevFin is one of the few groups on the street that focuses almost exclusively on underwriting sponsor-backed LBOs, and accordingly the analyst experience seems really thorough (heavy on modeling reps, early exposure to grid review and doc negotiation etc) which sounds helpful for developing a marketable skillset within credit. Any perspectives on this would be great though, want to dive deeper than just league tables
UBS or PWP now?
PWP
Placeat vero a iure est. Reiciendis at officia nihil.
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