Who are UBS’s competitors?
UBS names 14 companies as competitors in its latest annual report, on 4 fronts. 3 companies name UBS back.
Skip to the field, head to head ↓UBS company profile
UBS frames two rival groups by the half of its position each lacks
UBS names 14 competitors in four groups. Two of the groups are defined by contrast. One is "competitors with a strong position in the Americas but with more limited global footprints". The other is "competitors with international footprints but with a smaller presence than UBS in the US". Each group has one half of what UBS claims to combine.
The line between the halves is blurry. Morgan Stanley, JPMorgan Chase, Bank of America and Wells Fargo sit in the Americas group, and they also sit in the group of major global investment banks. BNP Paribas and Deutsche Bank sit in that same global group and in the international group. These are not small firms: JPMorgan Chase reported $182.4 billion in revenue, and Morgan Stanley $70.6 billion, up 14%. So the claim is about the balance of footprint, not about size.
Others place UBS in simpler company. Evercore lists it with the bulge bracket firms. Itau Unibanco names it, with JP Morgan and Citibank, as a competitor in the offshore market. The thing to repeat is that UBS's position is a combination, and a combination holds only while neither group of rivals closes its gap.
Where UBS says it competes
“competitors with a strong position in the Americas but with more limited global footprints”
“competitors with international footprints but with a smaller presence than UBS in the US”
“Our main competitors are major global investment banks, including Morgan Stanley, Goldman Sachs, Bank of America, Barclays, Citigroup, BNP Paribas, Deutsche Bank, Wells Fargo and JPMorgan Chase.”
“our main competitors are the Swiss cantonal banks, Raiffeisen, PostFinance and other regional and local Swiss banks”
Who names UBS as a competitor
“Our investment banking competitors can generally be categorized into two main groups: (1) large universal banks and bulge bracket firms such as Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS and (2) independent advisory firms such as Centerview, Houlihan Lo…”
10-K for 2025“Our main competitors are Bradesco, Santander and BTG, for the Brazilian market, and UBS, JP Morgan and Citibank, for the offshore market.”
20-F for 2025“The core group considered for the purposes of Group peer benchmarking are Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS.”
20-F for 2022What the rivals have done lately
“On May 1, 2023, JPMorgan Chase acquired certain assets and assumed certain liabilities of First Republic Bank (the “First Republic acquisition”) from the Federal Deposit Insurance Corporation (“FDIC”).” filing
“a gain of $339 million recognized in the first quarter of 2023 in AWM on the original minority interest in China International Fund Management (“CIFM”) upon the Firm's acquisition of the remaining 51% interest in the entity, partially of…” filing
Decisions that shaped the field
| JPMorgan Built Its $4 Trillion Empire by Saying Yes to Regulators' Fire Sales | 2023 | Never undone |
Asked about UBS’s competitors
Who are UBS's competitors?
In its annual report for fiscal 2025, UBS names 14 competitors across 4 fronts: strong americas, limited global footprint, international rivals with smaller us presence, major global investment banks and swiss domestic retail banks. 20-F for fiscal 2025
Which companies name UBS as a competitor?
3 companies in our coverage name it in their own annual reports: Evercore, Itau Unibanco Holding and Credit Suisse Group.
What are the alternatives to UBS?
The companies UBS itself names as competitors are listed above, front by front, each in its own report’s words. Which matters for a given buyer depends on the job, not the list.
What would it actually cost a challenger to take your customer?
Sources: UBS’s annual report for fiscal 2025; the annual reports of the companies that name it; each company’s financial data as reported to the SEC; Stratrix Decision Records. Analysis and data, not advice.
Keep going
Tools to try
- Ansoff move finderFramework: Ansoff Matrix
- Business model canvas builderFramework: Business Model Canvas
- Change readiness checkFramework: Kotter's 8-Step Change Model
- Five Forces scorerFramework: Porter's Five Forces
- SMART goal builderFramework: SMART Goals
- SWOT builderFramework: SWOT Analysis
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