UBS now Outside top 20 in Americas IB Fees in 2025
How does TD have more than double UBS fees in the Americas? How are Sumito, Mizhuno, Truist BNP, and CIBC better in the Americas?
UBS should buy Truist IB to get better.
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Based on the most helpful WSO content, UBS has been struggling in the Americas in terms of investment banking (IB) fees. UBS's performance in the region has been notably weak, with reports indicating that it ranked outside the top 20 in Americas IB fees in 2025. This decline is consistent with previous discussions highlighting UBS's challenges in maintaining a strong presence in the U.S. market, particularly as its focus has shifted more toward Wealth Management and away from banking advisory in the U.S.
In contrast, banks like TD, Sumitomo, Mizuho, Truist, BNP, and CIBC have outperformed UBS in the Americas. This could be attributed to several factors:
The suggestion for UBS to acquire Truist's IB division could be a strategic move to regain competitiveness in the region. Truist has a growing presence in the Americas, and such an acquisition could provide UBS with access to a stronger client base, sector expertise, and increased deal flow. However, this would depend on UBS's willingness to invest heavily in its IB division and shift its strategic priorities.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/ubs-is-the-only-top-bb-to-increase-its-profits-40?customgpt=1, What's up with the European banks and SA 2020? (UBS, DB, Barclays), Growth of UBS??, UBS is the only top BB to increase its profits (+40%), Next next bulge bracket?
1st half fof the year has been a mess for UBS. Not really enough time to turn the year around at this point.
Most of these names should be behind UBS
UBS will just hire more MDs and fire old ones with no fees; it's already happened in tech and biotech in HC, who have each gotten 3 new MDs since Q1 2025 in America. Other groups, such as CR and M&T, have also done the same, but to a lesser degree. For better or worse, the UBS leadership is willing to spend. On the bright side, almost none of the new hires are legacy Barclays people, which has been one of the biggest complaints. No doubt that UBS has had a horrible 2025 and underperformed expectations in 2024, but at least they are trying to fix it now.
How do you go from top 10 with aspirations of 6, to outside top 20?
Thats just insane
By having analysts like you. All you need is complain on this forum with your severance pay, no wonder you got laid off.
(Rolls eyes) Senior blames analyst for lack of IB revenue
Not a senior. I am very glad I am not joining the same team as you because you sound miserable to work with. I get being pessimistic and sad after being laid off, but all you do is complain and moan on this forum about how bad your old employer sucks and how you cannot find a new job. Have you considered trying to go find a new role instead of just continuously posting on here shitting on your old employer? As some poster said about another one of your ex-UBS people, if UBS were your ex, there would be a restraining order on you by now.
This is exactly why this person is still unemployed and was likely let go…psychosis…
I'm an incoming intern at UBS. Would it be possible to DM some questions about UBS? I am interested in tech as a sector, but worried about picking the group for placement.
I genuinely think a lot of the negativity around UBS on this forum feels coordinated or at least heavily influenced by some disgruntled ex-UBS folks, many of whom were likely pushed out and are now either between roles or in jobs they’re not happy with. There seems to be a tendency to scapegoat the Barclays hires without much self-reflection. Ironically, the forum was previously criticizing UBS for not cleaning house, and now it's criticizing them for doing exactly that, removing underperforming MDs and bringing in talent from outside the Barclays ecosystem. You can’t have it both ways.
Wow. Touched a nerve? Thanks for the unsolicited career coaching! Your insights are truly appreciated
Looks like they have to 4x revenue to just get to Wells
Bow down to our fearless leader Sumitomo Mitsui!
Canadian banks representing lol
This is actually pretty bad. In early 2024 they could use pipeline rebuilding after the merger as an excuse but now, losing to CIBC? Wtf?
Losing 60% of the Americas bussiness in 3 years is remarkably bad.
LSEG Data
1H22 - 8th, 930mm - 3.2% Market Share - $29.5bn Wallet
1H23 - 10th, 560mm - 2.4% - $23.6bn Wallet
1H24 - 14th, 594mm - 1.9% - $31.5bn Wallet
1H25 - Outside 20, ~333mm, - 1.0% - $31.9bn Wallet
UBS basically doesn't do any bonds or equity activity. That, alongside weaker M&A and slightly weaker LevFin than previously, makes it a very rough 1H. Will note that UBS pre-merger and especially post-merger (these stats for 2022/23 combine UBS + CS), UBS revenue is vastly dominated by loans since both UBS and CS had much stronger in LevFin/Sponsors than M&A. This year, UBS has been slightly weaker in LevFin compared to peers, and the entire LevFin market has been significantly weaker. Additionally, this year has leaned more corporate-heavy than sponsor-heavy, which UBS America is weak at comparatively. The UBS bread and butter client is a Sponsor looking to do a LevFin deal across all industries, with very few deals with corporates across industries. Not defending UBS here, just explaining how it happened.
Not defending, while defending? You good intern? Get back to work and keep spreading my comps
Daily reminder that ubs is trash. CIBC upgraded to BB
Daily reminder you are still off your meds…get that refill before severance runs out…
Given that UBS is considered a Bulge Bracket bank, we can safely assume there are now at least 21 Bulge Brackets, 4 Belch Brackets, and at least a couple Bootleg Brackets operating in the Americas
What really holds them back is that they don’t do too many bonds. They’ll stay capital light and lead with ideas
Why would you take ideas advice from a bank that hasn't seen an M&A deal since the stone ages
Not doing much IG loans or bonds absolutely is hurting
Truist has the power of Waffle House powering their analysts, don’t disrespect the best 3am establishment on this planet.
didn't UBS lose two of their MDs to santander and Wells recently?
they lost co-head of industrials, head of lev fin, and co-head of HC??
Palombini wasn't head of LevFin I don't think. I think Sade was still the boss. Correct me if I'm wrong. But yes they lost co-head of Industrials
In 2025, UBS has lost: the head of LDCM, 1 MD in LevFin, 1 MD in Sponsors, 2 HC MDs (one of which was a former co-head at MS and another HC MD to MS), 1 Industrial MDs (co-head of Industrials), and at least 1 Tech MD got laid off (could be more given there's 4 new Tech hires, but unconfirmed if there is any more).
UBS has hired: 2 Tech MDs from BoFA, 1 CR MD from Stifel (ex Citi and BoFA), 1 MD in Tech M&A from MS, 3 HC MDs from RBC, 1 MD in M&T, 1 MD in Tech ECM from Citi, and 1 LDCM MD from Barclays.
For better or worse, UBS seems weirdly committed to growing in HC and TMT, but has seemingly largely given up hiring ex-Barclays people for the most part. Most of this info is just from the Reuters article on the latest hire as they have done the work of figuring out every hire UBS has made.
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