UBS to cut CS investment banl
Bloomberg is reporting that UBS plans to cut CS IB after deal.
"UBS intends to downside CS IB and align it with their conservative risk culture"
Thoughts?
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that doesnt mean cut, that just means they will reduce headcount
I see. Seems like their is conflicting info from Bloomberg.
One says they will cut CS IB and the other says they will downsize to meet the risk culture at UBS.
https://www.bloomberg.com/news/articles/2023-03-19/ubs-s-chairman-vows-…
Shrink, not cut. Looks like there will be some headcount reduction. No color on if headcount reduction will be CS, UBS, or a combination of the two
It’s pretty clear it’s CS…lmao. The only place that’s reported that UBS people might get cut is WSO. UBS could of been planning some layoffs, but if you think they are going to fire most of their IB to take on CS (the sticking point in the deal)…
Good, iB is risky. Good recurring cash flow from wealth management is the future. Bullish on UBS
Man, I am going into IB but I gotta agree with you on this one.
Some places where they have strong Private Banking Divisions are paying EDs banking money. Crazy how we’re witnessing an economic shift.
The places with strong WM/PBs like MS/JPM/UBS/BAML have always been this way. More a view that the conventional function of an IB to provide advice/S&T is going to become more automated/darwinism where the best of the best will be around.
From a WLB and pay perspective, being an MD in say JPM PB with a 500k base + a bonus anywhere from 250k (lowest I have heard) to 3MM is no brainer.
What does banl mean?
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By the way, why is the Merill Lynch (BAML) no longer part of the BoA name on the website?
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