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Insecurity Spreading Among UBS Bankers

Credit Suisse employees are not alone in fearing for their jobs. UBS bankers are also in for a rude awakening. In an acquisition, at least a third of the staff of the acquired company will keep their jobs. Despite assurances from UBS s top management, this is causing increasing uncertainty among the rank and file. ....

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UBS Hires Team of Private Bankers From Credit Suisse for Israel

(Bloomberg) UBS Group AG hired at least a half dozen private bankers from rival Credit Suisse Group AG to boost its relationships with wealthy Israelis, people familiar with the matter said. The team is headed by Ido Ben-Haim, a managing director and the head for the Israel market at Credit Suisse, the people said. At UBS, the team would report to Caroline Kuhnert who leads the bank’s wealth business in Central & Eastern Europe as well as Greece and Israel. The hires help replace Moshe Fisher, who left UBS last month, as head of ultra-high-net-worth clients for Israel, several other people familiar with his departure said. UBS declined to comment. A Credit Suisse spokesman confirmed that Ben-Haim left the bank alongside Hila Goldenberg, the chief executive of Credit Suisse in Israel in mid-September. Andreea Grob will become the new market head for Israel at Credit Suisse, the spokesman said. Israel has experienced a wealth boom tied to surging investments in the country’s techno ....

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