Is UBS still a BB? Worried
Incoming summer IBD at UBS this year. Quite worried with the firm's outlook and prospects as the firm had two consecutive dismal quarters for IBD/S&T, along with massive potential fines (4bn in France) and rainmakers who have left the firm. I also don't see UBS ranking highly in ANY product/industry, it really seems like UBS is just clinging on with it's wealth mag arm and IBD/S&T are really just supporting functions.
Other firms like RBC/Jefferies have been doing really well recently and even banks like DB which gets a lot of bad news coverage are still much further ahead as compared to UBS.
UBS IBD specifically just seems to be on a low key but steady decline. I feel that although it doesn't get much attention, it's definitely struggling as a firm. There seems to be this inherent notion around that UBS is definitely not in the BB category anymore.
Could I get any views on this especially in a NYC/LDN perspective? Perhaps are there even any exit opps or decent placements out of UBS anymore?