• 10 May 2011 at 2:15 PM

UBS Has A Dream

By Bess Levin

UBS AG, which has lost at least 50 dealmakers from its U.S. investment bank since 2009, remains committed to the unit and aims to reach a top-five rank, said Matthew Grounds, the division’s global co-head. “I’m only interested in getting our market position in the Americas to where it needs to be,” Grounds, 41, said in an interview yesterday at the firm’s New York office. The bank has dedicated capital for hiring, he said, declining to elaborate. Given the company’s global size, “I want to be top five.” [Bloomberg]

Comments (14)

  1. 1
    Posted by The UBS Sucks Guy | May 10, 2011 at 6:41 PM

    UBS sucks

  2. 2
    Posted by Anonymous | May 10, 2011 at 7:40 PM

    That’s precious.

  3. 3
    Posted by Offset | May 10, 2011 at 7:42 PM

    Working at UBS is still better than sitting in a dark room office in mid town manhattan

  4. 4
    Posted by Texashedge | May 10, 2011 at 7:46 PM

    They still have an excellent energy group in Houston to fall back on

  5. 5
    Posted by Mexi-Cant | May 10, 2011 at 7:51 PM

    I want to be top 5 also!

    -RBS, Wells Fargo, Nomura, Jefferies, Piper Jaffray, HSBC, Citi, BOA, Citadel, Barclays, RBC

  6. 6
    Posted by GGGuest | May 10, 2011 at 8:12 PM

    that’s debatable

  7. 7
    Posted by Ken Moelis | May 10, 2011 at 8:37 PM

    Top 5 at sucking…mission accomplished.

  8. 8
    Posted by God | May 10, 2011 at 8:52 PM

    and where would that be?

  9. 9
    Posted by Guest | May 10, 2011 at 8:56 PM

    I see… They just weren’t trying before.

    I guess that’s really the only excuse for sucking that badly.

  10. 10
    Posted by Rdzilla | May 10, 2011 at 9:02 PM

    Can’t … stop… laughing….

  11. 11
    Posted by 9BulgeBrackets | May 10, 2011 at 10:14 PM

    uhhhhm if citi, boa, and barclays are not top 5 then who is??? Mexicans can’t do math…

  12. 12
    Posted by Nouveau Richie | May 11, 2011 at 6:54 AM

    Wow! Was going to just come in, not read the article, and say their dream was “To Not Suck.”

    Read the article expecting it to be some bullshit about having their employees dress correctly or show up on time, but… the dream is literally “To Not Suck.”

    Kudos for the realism UBS… but you still suck.

    -Guy who appreciates when people cut the shit/Guy who hates delusional banks

  13. 13
    Posted by Guest | May 11, 2011 at 7:35 AM

    UBS might still be top of the heap in Downunder. But getting the Head of Asia-Pacific IB (albeit he might be one of the three joint-global heads of IB) to comment about the condition and ambitions of UBS’ American IBD is symbolic of the troubles UBS finds itself in.

    Then again, Bloomberg probably couldn’t get hold of any senior UBS-US executives because they were all busy interviewing for roles at other banks.

  14. 14
    Posted by Curious George | May 11, 2011 at 10:39 PM

    What’s so special about UBS Houston?

Leave a comment

You can log in with your account or comment as a guest below.

   or