Let the outflow begin: as of last week, headhunters say UBS’s investment banking staff have banked their (allegedly paltry) cash bonuses for 2012 and are ready and willing to leave the bank. “Cash bonuses hit their accounts on March 25th,” one fixed income headhunter told us, speaking on condition of anonymity. “A lot of UBS fixed income people are trying to leave and already under offer. You will see around 20% of their fixed income people leaving over rest of this year,” he predicted. [eF]
Bonus Watch '13: UBS Hedge Fund Employees None Too Happy To Be Treated Like UBS Employees
The Swiss are scheduled to communicate bonus numbers today. In the meantime, those working in UBS's O'Connor fund are preemptively pissed re: the news their compensation will be structured as though they were regular old employees of the bank. What are they doing about it?
Hiring (At Some Point) Watch '12: UBS
The Swiss bank is said to be making the young ones wait to hear if there's room at the inn. "UBS is delaying return offers to summer analysts in S&T from late August to God-knows-when. Reason provided: "It's difficult to bring key decision makers together due to 2-weekers [taking their mandatory vacation]"
Things Are Going To Suck For A While: UBS Investment Banking Chief, Basically
Or continue sucking, as it were.