Hi everyone, was simply wondering about people's thoughts on UBS London these days, in particular from the perspective of juniors. Do you see the bank becoming a stronger player following its CS acquisition, or do you feel its cards aren't looking great ? Also for those who might have this info, which groups do you think are strongest following the acquisition ?
Grateful for any info!
Signed: a confused student
| +235 | Who Killed Wall Street | 65 | 2d |
| +194 | Worlds Worst MDs Competition (2026 Edition) | 44 | 1h |
| +167 | As Lehman people reconvene at UBS, Barclays needs to hire (2023) | 23 | 6d |
| +130 | Only Indians cold emailing | 44 | 8h |
| +125 | Lindsay Clancy - Thoughts from A2 | 22 | 3d |
| +69 | UBS Healthcare | 34 | 19m |
| +50 | Shana tova - happy new year | 6 | 10h |
| +48 | NYC Wall Street Run Club | 13 | 7h |
| +45 | More diversity needed in the industry | 11 | 17h |
| +43 | EB (EVR/CVP/LAZ) vs MBB (Bain/BCG) | 22 | 48m |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Working there so a bit biased - 2023 performance has been great when it came to league table and seniors are all about “now we’re able to compete against US BBs”.
Thanks for your response, btw maybe a bit of a stupid question but do you feel like deal experience per analyst is going to be a bit "diluted" over the next years due to the time lag until deals catch up to headcount ? (i.e. less opportunities to hold the pen on models for example)
Don't have enough experience to give an answer here, been on the job for 6 months and already staffed on c.5 executions so not complaining.
hey is it alright if i dm you some questions? joining there soon
Looks like they are still laying off people and struggled to retain some of CS top rainmakers. I wonder what the final pro-forma headcount will be, maybe it won't be that much higher than pre-deal. They won a huge chunk of market share in the Swiss market. All in all I guess UBS can only benefit from this operation.
Also working there, so also biased. CS has arguably been the stronger franchise in most sectors, and therefore significant business is being brought in. Taking over the loan book from CS swamped the LevFin team and they are printing right now. Other coverages have also felt a lot of strong client connections being made through the acquisition which will all likely turn into fee events sooner or later. Therefore agree, the bank can only benefit from this from a corporate perspective. From an employee perspective, also some downsides. More job uncertainty atm with further cuts ongoing, although this is hopefully done by Q2’24 latest. Another point is also the cultural aspect in some teams, with new people coming in noticeably changing the culture
Thank you for the info, do you feel these repeated cuts might shore up the perceived "quality" of the juniors remaining ? (as they would be the ones that made it through said cuts)
Which are the strongest groups there?
LevFin/FSG(previously combined now separated), GIG, and FIG have historically been the strongest groups at the firm.
Insights on M&A or industrials?
I mean, lots of external analyst think UBS stock will double in the next 3-5 years, so I most sentiment is positive.
Agreed, though to my knowledge it seems this increase will be mostly driven by non-IB business (i.e wealth management)
Being a UBS shareholder and a UBS employee may be 2 very different experiences (goes for any company)
If UBS reduces headcount to improve profitability which drives up the share price, that’s a great shareholder experience but a terrible employee experience….
Think they made a lot of hires from Barc recently
Checking in
Which other areas are there good CS MDs besides HC? Who ended up even getting retained?
Almost every group is being run by Barclays or CS MDs, the better question is where the old UBS leadership is tbh. I think only LevFin and to a lesser extent FIG and GIG is being led by legacy UBS folks. There are more group heads from Barclays than CS though, CS had more junior MDs move over rather than the big rainmakers, while UBS stole a large number of Barclays/ex-Lehman rainmakers who moved over with Marco Valla.
LevFin, GIG, and FIG are also their strongest in the US, so it makes sense why those were the only seniors who are left. The other groups simply weren't as strong, and thus new leadership was brought in. It's overall a net positive for the firm and the seniors in those groups that are being brought in are almost all noted Lehman dealmakers, which can only be a positive for the firm. There are also a couple of seniors in the GIG/FIG coverage universe that should also be a slight boost to those groups, overall a clear net positive.
Gig is basically run by cs mds at this point
What were bonuses like?
Communications are beginning of Feb
Do analysts get bonus this time of the year as well?
No, only associate and up
Does someone have any idea on how UBS analysts may fare on exits over the next few years (London) ?
BUMP
Not feeling this barclays takeover of ubs/cs at all.
Looking into my exit options at moment.
Why not? Seems ok to me
.
Bump
For UBS analysts/assos looking into exits these days, do you feel you're getting many bites?
Soluta modi suscipit voluptatem reiciendis. Eos dicta corporis provident architecto explicabo. Necessitatibus incidunt sunt deleniti.
Deleniti ex expedita quae et facere minima. Itaque fuga asperiores nesciunt ut. Ipsam adipisci porro nihil facere quisquam sint.
Sint vel sit est. Nostrum dolore consequatur eveniet nihil occaecati est. Perferendis dolorem dolore aut quidem.
Fugiat fugiat consequatur sit autem. Alias porro quaerat omnis vel.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quaerat eveniet similique nihil sit in ea dolore molestiae. Rerum non quaerat hic eveniet. Sint dolor quos maiores dolor. Perspiciatis vero est perferendis dolore inventore et. Non earum dolorem est doloremque sunt assumenda magnam.
Voluptates qui explicabo aut non sapiente explicabo ut tenetur. Quisquam magnam est aut fugiat neque. Praesentium necessitatibus architecto in rerum facere.
Totam facilis velit deleniti iste expedita voluptas. Ex rem voluptatem culpa laborum culpa harum iste consequatur. Deleniti accusantium est expedita quia accusamus.
Qui eaque iure corrupti deleniti enim. Earum accusamus amet mollitia odit ut. Illum ex cumque omnis ut. Nam neque ipsam et et occaecati nemo quae. Quod sed necessitatibus earum distinctio ducimus quos et. Commodi ea et possimus quo.