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Banking

The Champions League of investment banking: UBS

The Champions League of investment banking

How we calculated the investment banking Champions League table

Manager: Peter Wuffli
Age: 49
Appointed: 2003
Value added: 20.5% pa (8th)
Chop rating: 4/5

Wuffli has achieved much at UBS but he is a man under some pressure. Profits are not what they might be, fixed income is weaker than it should be and where is UBS in growth areas such as private equity?

Head coach: Huw Jenkins (49, 2005)


Star players:
Daniel Coleman and John Wall jointly took on the task of running the global equities business when Huw Jenkins was elevated in 2005. Equities continue to be the bank’s key investment banking area

Rising star: Former global head of debt capital markets Suneel Kamlani recently moved onto the executive board as chief of staff responsible for overseeing the strategic development of the investment bank

Weakest link: It has the best wealth management franchise, is consistently the best in private banking and is a great asset manager. But how big is the commitment to investment banking? Meanwhile, UBS is positioning itself strongly in the BRIC countries: will the investment pay off?


Key transfers 2006:

IN: Cai Hongping (chairman of investment banking in China, from BNP Paribas); Matt Hanning (head of M&A and corporate advisory for investment banking in Asia-Pacific, from Morgan Stanley)

OUT: Alex Easton (head of European equities, leaving to do charity work)


2006 capital markets performance (▼/▲ 2005)

Overall fees: $3,535mln (+18.1%) 6th (▼1)
DCM: $1,038.4mln (-2%) 9th (▼4)
ECM: $1,209.5mln (+31.9%) 3rd (▲1)
M&A: $1,287.1mln (+26.6%) 5th (▲1)
FX market share: 11.86% (-0.61%) 2nd (no move)

Rankings 2006:

Return on equity: 25.8% (= 3rd)
Growth of earnings: 16.1% (14th)
Market cap: $127.8bln (4th)

Champions League position 2006: 4th=
If UBS were a Champions League team it would be: Bayern Munich. The wealth management business drives a machine that always makes UBS a force to be reckoned with. But where is the flair to excite the neutral supporter?

































































Summary table of top banks, with quick links to more related content on euromoney.com


Is the banking boom sustainable?


The investment banking Champions League 2006
Euromoney's unscientific guide to the industry's leading firms
  Click on the firm's name below to read commentary Overall fees RoE GoE Mark cap Total
1 Goldman Sachs 32 16 14 9 71
2 Morgan Stanley 26 11 16 8 61
3 JP Morgan 28 1 15 14 58
4 Citigroup 30 5 1 16 52
4 UBS 22 14 3 13 52
6 Credit Suisse 20 10 11 7 48
7 Merrill Lynch 24 6 10 6 46
8 Barclays 10 14 8 10 42
9 Deutsche Bank 18 8 9 4 39
10 HSBC 8 2 13 15 38
11 Lehman Brothers 16 12 6 2 36
12 BNP Paribas 6 9 7 11 33
13 Bear Stearns 14 4 12 1 31
14 Société Générale 2 15 5 5 27
15 ABN Amro 12 7 2 3 24
16 RBS 4 3 4 12 23
Source: Dealogic, Annual reports, Euromoney

































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