UBS Takes First Place in Q1 APAC IB Revenues
Dealogic’s first quarter preliminary figures are out, and 2025 is shaping up to be a mixed bag for Switzerland’s largest bank – once you get past the headlines.
The first of 2025’s investment bank league tables are starting to drip out, providing salutary lessons to bankers and executives the world over about whether they are closer to being bulge bracket or boutique.
The minutely studied figures offer helpful lessons, albeit indirect, in the market power UBS has garnered two years after taking over its erstwhile competitor, Credit Suisse, according to Dealogic’s preliminary rankings for the first quarter.
First in Asia
Released to the media on Monday, they show that UBS climbed up five spots in the ranks for APAC (ex-Japan) IB revenues (by bank) to take first place with a market share of 5.4 percent.
It also placed first (16.5 percent market share) when it came to regional M&A revenue, up from second last year, and did well when it came to APAC (ex-Japan) ECM revenues, placing fourth against ninth a year earlier.
Improving DCM
It even performed well in DCM, where an improved market share of 2.4 percent catapulted it from 24th last year to eighth.
Globally, however, the picture was decidedly a more mixed affair. It did manage to improve to tenth place in Global ECM revenue from 13th in 2024. That was the same position it achieved in global financial sponsor revenues, albeit the latter was a drop-off from sixth last year.
Only a Few Months In
Still, the first quarter does not a whole year make, and with the volatile equity markets and Trump 2.0 jostling up trade flows and sovereign relationships here and there, the full-year tally may show a decidedly different picture.
Dealogic's official rankings for the first quarter of 2025 will be available in the first week of April.
