UBS TMT vs. WF (Summer Associate) - Thoughts?
Considering offers from the TMT group at UBS and Wells Fargo. Hoping to get some feedback.
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UBS
Neither. No deal flow. Exodus of great talent from both groups also.
WF is in a great position to grow, they snapped up a bunch of the Citadel IB guys I'm pretty sure. UBS seems to be a sinking ship aside from its WM business. UBS prob has better IB name, but we live in changing times, Wells has some big plans
ubs as a firm is in a tailspin, certainly the stronger name, the investment banking unit has seen top management leave in droves.... WF is growing, the firm is continuing to add to its investment banking division, and has been remarkably unscathed from the 2008/2009 financial fallout that other banks have fallen victim .... definitely have to consider WF
If you want to get a better sense of the direction UBS is taking with the Investment Bank look through this.
http://www.static-ubs.com/global/en/about_ubs/investor_relations/_jcr_c…
They are pretty adamant that they remain committed to IBD in the US. I think it's backed up by the hires they've made over the last year to replace MD's that had left previously as well. They aren't hiring people from MM's/Boutiques, they're bringing in MD's from Morgan Stanley, Barclays, etc...
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