UBS Set to Poach Staff for M&A
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During this week’s Davos conference CEO Ralph Hamers, said UBS was looking to hire. Now we know which kind of bankers it is going after.
UBS is looking to bolster its M&A staff, citing people familiar with the plans.
The move contrasts with recent decisions by banks, including Morgan Stanley and Goldman Sachs, to cut staff and reduce investment banking capabilities after last year’s dealmaking slump.
UBS focuses on experienced managing directors at target boutique advisory businesses, which it aims to lure with attractive compensation.
Since the financial crisis Boutique M&A advisory groups such as PJT Partners, Houlihan Lokey, Evercore, Lazard, Greenhill and Robey Warshaw — have been winning market share from traditional bulge bracket investment banks, it added.
Questions & Answers
Q.What type of bankers is UBS specifically looking to recruit?
What type of bankers is UBS specifically looking to recruit?
UBS is focusing on hiring experienced managing directors for its M&A staff. These individuals are being targeted from boutique advisory businesses to bolster the bank's capabilities in this area.
Q.How does UBS's hiring strategy compare with other major banks?
How does UBS's hiring strategy compare with other major banks?
UBS's decision to hire M&A staff contrasts with recent moves by banks like Morgan Stanley and Goldman Sachs. These competitors have been cutting staff and reducing their investment banking capabilities following a slump in dealmaking.
Q.Which specific types of firms are UBS targeting for new hires?
Which specific types of firms are UBS targeting for new hires?
UBS is targeting experienced managing directors from boutique M&A advisory businesses. These include firms such as PJT Partners, Houlihan Lokey, Evercore, Lazard, Greenhill, and Robey Warshaw, which have gained market share since the financial crisis.
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