UBS Group AG (UBSG.S) is looking to retain more than 100 Credit Suisse Group AG (CSGN.S) investment bankers across Asia as part of a plan to shore up talent in markets where its rival has a stronger presence, a source with direct knowledge of the matter said.
Switzerland’s biggest bank is in advanced discussions to keep dozens of Credit Suisse’s senior dealmakers in countries including South Korea, Thailand, Vietnam, and India following a planned takeover, the source told Reuters on Monday, requesting anonymity because the matter is confidential.
The development was reported earlier by Bloomberg News.
Bloomberg said that UBS’s retention target of more than 100 bankers did not include China. It has held talks with a few bankers in China, but the final number being kept will depend on discussions with regulators, the report added.
UBS did not immediately respond to a request for comment on the report, while Credit Suisse declined to comment.