The Duel of UBS and Credit Suisse Star Analysts Begins: The integration of Credit Suisse into UBS is leading to a major shake-up in their respective research departments. The future of star analysts is also uncertain. ubs creditsuisse
UBS CEO Sergio Ermotti is tireless when it comes to emphasizing the commonalities of UBS and Credit Suisse following the integration of the two. Instead of competing, the next chapter of their shared journey will now be tackled, he reiterated to the public last week after Credit Suisse was delisted from the stock exchange.
In 2022, UBS analysts ranked among the top three globally in 74 sectors, according to Institutional Investor's Global Research.To be sure, with the merger of the two banks, the jobs of these analysts are not in immediate jeopardy. However, if UBS analysts do not perform well, the bank can now call on Credit Suisse analysts, undoubtedly increasing competition.
The combined bank will hardly be able to justify two departments dealing with the same issues over time.Moreover, equity research is not the most lucrative area of investment banking. Profitability has suffered in particular since the introduction of the European Union's MiFID II in 2018, which requires the unbundling of trading commissions and investment research.
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