UBS moves up research rankings after 10,000 pages on stock picks
UBS Group is expanding its coverage of small and medium-size companies as part of the bank’s efforts to move up the rankings for equities research in North America.
Since the start of last year, UBS analysts have initiated coverage on 377 US stocks, the majority of which had a market value of less than US$10 billion, according to a memo to staff from Jim van Tassel, head of UBS’s research business in the Americas. The moves are meant to help the bank become a top-three competitor in North American equities research, the memo said.
UBS has been integrating its research offerings with those of former rival Credit Suisse, which it acquired earlier this year. With the deal, UBS has said that Credit Suisse wealth clients will have access to research on double the number of single stocks than they had previously.
“This coverage growth will improve our advisory rank versus our largest competitors,” van Tassel said. “Adding our new colleagues will continue to grow our coverage in the near term.”
A UBS spokesperson confirmed the contents of the memo.
Dozens of UBS analysts have expanded their coverage since the beginning of last year, compiling 10,000 pages of research as they initiated ratings on the additional stocks, according to the memo. So far, the moves have helped UBS move to sixth place in total stocks covered from 14th.
“We aren’t done,” van Tassel said. “We have third place in our sights.” BLOOMBERG
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