HONG KONG, March 24 UBS has promised retention packages to wealth management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the Swiss bank.
(Bloomberg) UBS Group AG wealth boss Iqbal Khan told Credit Suisse Group AG staff in Asia that he’s working on retention measures including compensation, according to people familiar with the matter, as the bank seeks to prevent an exodus of top talent. Khan, alongside Francesco De Ferrari, Credit Suisse’s wealth management chief, made the comments at a town-hall in Hong Kong to Asia Pacific staff on Friday, said the people, asking not be identified as the event is private. They were joined by UBS senior Asia executives including Amy Lo, co-head of Asia-Pacific wealth, and Asia-Pacific President Edmund Koh, said the people. Retention plans are likely to be aimed at top performers, one of the people said. When asked about compensation, Khan indicated it’s being worked on and more details could come as soon as next week, without being more specific, one of the people said. Khan’s comments are the latest sign that UBS is concerned rivals will take advantage of the turmoil surrou
LONDON UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure key staff following the…