23 Comments
 

false, some have left to Santander, particularly some M&A, and HC seniors. HC at UBS was and will remain weak, so not the biggest difference, the FSG CS folks mostly went to WF, not Santander. Santander also had a lot of junior hires, but that doesn't matter at all for deal flow.
Edit : West Coast REGL people also joined, but still nowhere near most leaving to join Santander.
 

 

Tom Davidov and a lot of the West Coast REGL guys took off to Santander. Davidov was the west coast sponsors juggernaut.

 

This article provides a pretty good summary of the integrated UBS / CS investment bank: https://www.reuters.com/business/finance/ubs-rejigs-investment-bank-bid…

The new IB leadership is a blend of new folks from Barclays and Credit Suisse, as well as incumbents at UBS – should be interesting to see if / how things work out. edit Also worth mentioning Steve Pettigrew, co-head of software banking at BofA and joined UBS this past July. In summary, surprising inflow of senior bankers to a platform that explicitly de-prioritizes IB in favor of WM, especially under Ermotti. 

 

Seemingly a large chunk of CS dealmakers are left then? 12/40 senior hires being CS is a lot, especially considering there were significant senior Barclays hiring. TMT seems like the group most strengthened by far, wonder what other groups are now good. Also not mentioned in this article but came up on a Google search, Richard Casavechia the former Global Chairman of Barclays was hired as Head of Americas for Global Banking.

 

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