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The turnaround came after a period of outflows, sparked by a US investigation into the tax affairs of UBS’s clients and the bank’s disastrous performance in the financial crisis, when it slumped to a record-breaking Sfr UBS released their bonus figures for individual employees on the Feb 12th.
Exactly the opposite, right? But it is obvious that it needs to shed non-performing areas such as its decimated Houston energy practice But given that I’ve been a voice of pessimism for the past few months, I wanted to put my words in perspective.
UBS Investment Bank Status Report
If this article is factually correct, UBS IB is pretty screwed no matter what their supposed time frame is as it will be near impossible to retain any talent.
Laying off analysts is still a last resort, as the cost savings is minimal.
The Olivant letter seems to focus on the key problems with the firm’s management. Don’t let fear and despair render you unable to function. March 2nd will be the moment of truth. Also, even though I’ve heard the ‘campus relations’ and ‘image’ reason used a lot to explain why banks would be reluctant to revoke offers, how much would this hold sway if a bank decides that it is not all that committed to investment banking anyway beyond the year horizon? Popular Content See all.
Despite what a few of you have said, I believe the earnings announcement will be very telling with regards to the future of the IBD.
IBnutz is not bullshitting- i’ve heard similar numbers. It’s just not a good approach to spend the next five months staring at your cell phone hoping you don’t get a call out of the blue if you’re a student, any more than you should be hiding in your cube hoping to not get a call from the 25th floor conference room or a visit from a pair of security guards to take you to said conference room.
I think the spinning off of the IB division is unlikely given the market turmoil, however I certainly agree that there will be drastic cost cutting measures taking place in the coming quarters.
Macquarie and UBS are both 1s depending on your league tables. Things are bad, and seem to be getting worse. What a shit company. Does this mean companies will require less investment banking work?
As ex-banker has pointed out, there are campus relations, student relations, general reputation and even self-image factors that mitigate the willingness of firms to take such an extreme measure. As you can see from the change in market sentiment from July of last year versus September, or January of this year versus now, a lot can change in a very short period.
What would be the real point of having an FT offer honored at say UBS or Citi if there is a reasonable likelihood that 1 year down the track you get laid off because pressure on the firm continues to build? See Highest Ranked Comments.
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In particular, the prospect of a break-up is becoming increasingly possible, if not in the next coming months, perhaps over the next years.
Afaik, UBS pay their bonuses out on the 1st March, and so the 2nd the exodus is expected. It has a hint of darkness that lingers behind as the truth is driven in with a firm hand. Senior Analyst – Hedge Fund Past: FT offers will be honored. I don’t know specifically about layoffs in Europe, I do know my group got pretty much decimated flletype the Associate level in London.
For all the talk of disintermediation or commoditization of our business, what has happened to employment, and more importantly compensation?
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You’ll drive yourself nuts, paralyze your ability to function, and pre-destine yourself to the outcome you don’t want if you do. That’s an interesting point from Genghis, and one I somewhat agree with.
Jesus, check out what Josh Brown just tweeted. The bank hopes that its strong core tier-one capital ratio – a key measure of financial strength – will help to attract inflows from customers. Give it a try So, Genghis and others, I’m curious as to what you think would happen in the event that 1 year down the track UBS decides to legally separate their IB with a view to a sale?
We remain confident fieltype our future and believe that we are on track to achieve our medium-term goals.