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Would you work in equities at UBS?

Just how desirable is UBS as an equities employer these days?

On one hand, its list of equities-related achievements remains long: UBS is still the leading equities house in Europe and claims to be gaining market share; it was voted Number 1 Research house for the eighth year running in Institutional Investor’s last client survey and voted the leading pan-European brokerage firm for equity and equity linked research for the eighth year running in Thomson Extel’s most recent survey.

On the other hand, it’s rumoured that no one wants to work there any more.

“I’ve spoken to three separate people who are out of the market, but who say they still wouldn’t consider a position at UBS,” says one equities headhunter. “Along with other banks that have received money from governments, there’s a question mark over how they’re going to pay people,” says another.

Fortunately, UBS is far from being in expansion mode, meaning its ability to attract talent en-masse is unlikely to be tested any time particularly soon. On Sunday, Swiss newspaper Sonntag reported that it’s about to report another 8,000 redundancies and another $2bn of writedowns.

UBS is, however, likely to need replacement hires for the four man portfolio trading team which left for ICAP earlier this month. The bank declined to comment on whether it’s mandated headhunters to fill the gap, but it’s rumoured to be looking.

“It’s certainly an unhappy place,” says one equities headhunter working for the Swiss bank. “But the portfolio trading vacancies are also a good opportunity.”

Comments (6)

  1. It is true. For all the reputation UBS has lost. It still remains top prime broker and an equity powerhouse. Their Stamford trading floor is the size of 4 rugby fields..

  2. Maybe so. But at least in the UK, UBS still treats its employees poorly

  3. And which bank doesn’t these days. We are all but expendable mercenaries. And like football players should not expect good treatment in bad times. Both us and the club knows we will disapear the moment a better offer is made. Anybody who thinks otherwise or talks of loyalthy is misguided, naive and foolish.

  4. UBS has never been good with risk management and there are definitely rules of the game which need to be followed even in a recession. Employment law is not particularly strong in the UK and some employers don’t even follow procedure, prefering to just pay people off if anything goes wrong

  5. What a ridiculous article – I know recruitment must be quiet but surely you can come up with something more interesting to read? 95% of the city would without doubt swap their jobs for a job within Equities at UBS – one of the foremost Investment Banks with a strong equities business. Plus, the 35% of employees ( moving on up to over 100,000 people) who have been made redundent within the last year would give their right eyes for a shot within the division.

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