Pros
It looks great on the resume. Great opportunity to learn how a large corporate bank is run. Great way to make connections with some great people.
Cons
Recently, UBS has been run in silos. Not even at the corporate or group level, but at the team levels as well - People in the same organization often work on the same projects without knowing what their associates are doing. Collaboration is not very well encouraged and often when collaboration is sought, usually it is fought back by people who put their own priorities first. Any concept of 'team' being sent down by management is artificial at best. Management relies heavily on organizational and title heirarchy. One division even has rules around who can send emails that go to senior management. While this is good at limiting email blasts going to senior management, it also introduces heavy burocracy to staff and middle management, essentially good ideas have to be floated to the top before they can be presented to senior management.