GF
Company: UBS
Four things you must have to secure a wealth management role in the Middle East
The number of wealth managers looking to tap into the growing pool of investable assets in the Middle East is on an upward trajectory. The likes of Barclays Wealth, Coutts, Jefferies, J.P. Morgan, Lombard Odier, Merrill Lynch and UBS have all been talking up MENA expansion plans currently, and a number of other firms have [...]
UBS M&A bankers should be afraid: today’s results give Andrea Orcel a licence to clean them out
It’s UBS Q1 results day. Amidst the high own-debt charge, the falling compensation, the falling headcount, the ok performances in FICC (except in rates) and equities, one thing stands out: M&A has done very badly. UBS even admits as much. “Advisory revenues decreased 33% to CHF 169 million from CHF 254 million, as our market [...]
Arguably the safest banks to work for in Middle Eastern M&A and DCM
The volume of debt capital markets (DCM) deals in the Middle East has been steadily increasing for some time now, but investment banks have still largely been reluctant to increase their headcount in this area. This could change if the current surge in activity continues. In the first quarter of 2012 debt issuance in the [...]
International banks are starting new Dubai operations…and hiring wealth managers
The fact that US securities firm, Jefferies, has opened a new office in the DIFC could be viewed as a tentative vote of confidence for investment banking prospects in the Gulf. However, much like many other international firms, its main motivation is to tap into the vast pool of wealth in the region. Jefferies has [...]
Morgan Stanley and Oliver Wyman have produced their annual report on the state of the investment banking industry. This is what you need to know if you want your career to last
First there was the enormous report from JPMorgan on the state of the investment banking industry. Now we have another enormous report from Morgan Stanley and Oliver Wyman, also on the state of the investment banking industry. Morgan Stanley/Oliver Wyman’s report is an update of something they produce every year (last year they gave a [...]
When accounting anomalies are stripped out, these are the banks – by business – that really performed in 2011
Jon Peace, an MD of banks research at Nomura, has kindly shared with us his clean figures on leading banks’ performance by business areas in 2011, with the effects of DVA stripped out. They provide a reliable indication of which banks’ businesses really outperformed in 2011 and which banks’ businesses really didn’t. There are some [...]
UBS is paying select senior staff an extra £80k a year in an attempt to retain them; if you want an instant bonus try a Russian bank (but not VTB)
Things are still bad at UBS, but they are less bad than they seemed yesterday. The Financial Times notes that the Swiss bank is making some special payments to discourage special people from leaving. Mentioned on slide 24 of its analyst presentation, these payments will be comprised of stock awards currently totaling CFH300m (£207m) and [...]
Everything we know so far about bonuses and deferrals, bank-by-bank
As a follow-up to our earlier article on the state of bonuses, cash caps and deferrals on a bank-by-bank basis this year, here’s what we know now. Feel free to email us at Editor@eFinancialCareers.com or to leave a comment if you know additional details that we don’t. Bank of America Cash bonus cap? Yes, but it [...]
The Middle East is the only region where headcount has INCREASED at UBS
The fourth quarter of 2011 was not a good one for UBS – profits have tumbled by 76% year-on-year, its investment bank has posted another loss, headcount is being slashed and the bonus pool could be down by as much as 60%. Yet in the Middle East and Africa, where it admittedly employs a comparatively [...]
Disaster as the UBS investment banking bonus pool is reduced by at least 60%, making zeroes inevitable
After all the waiting, the worst seems to have come to pass. Still ensconced in Wandsworth prison, Kweku Adoboli appears to have precipitated a 60% (minimum) reduction in the UBS investment banking bonus pool. The figures are given in a confusing graph included in today’s investor presentation. Shown below, this shows the portion of the [...]
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