UBS, the Swiss financial giant, is making a renewed push into the lucrative US investment-banking market, more than a decade after it abandoned its ambitions of becoming a major player in the sector. This time, however, the bank’s ambitions are more measured.
The bank’s recent takeover of its local rival, Credit Suisse, along with turmoil at other global peers, has created an opportunity for UBS to rebuild a business that has been trailing behind its competitors. According to UBS executives, the bank has been actively hiring senior deal makers, expanding its research coverage, and increasing its pitches to potential clients.
The move comes as UBS seeks to make inroads into the world’s largest market, following its acquisition of Credit Suisse in March. The bank’s strategy appears to be paying off, as it is now aiming to become the sixth largest investment bank in the US.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇨🇠|
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | UBS, UCG/Universal Images Group, Financial News, Credit Suisse |
| Currencies | None |
| Securities | None |
