© Reuters. FILE PHOTO: The logo of Swiss bank UBS is seen at its headquarters in Zurich, Switzerland on October 25, 2022. REUTERS/Arnd Wegmann/File Photo
(Reuters) – USBS Group AG is looking to retain more than 100 investment bankers for Credit Suisse AG across Asia as the Swiss banking giant plans to foster talent in markets where its rival has a stronger presence, Bloomberg News reports. Sunday.
The report said, citing people familiar with the matter, that the bank is in advanced discussions to retain dozens of senior dealmakers at Credit Suisse in countries including South Korea, Thailand, Vietnam and India following a planned acquisition.
Bloomberg said the target to retain Switzerland’s largest bank of more than 100 bankers does not include China. The report added that it has held talks with a few bankers in China, but the final number to be kept will depend on discussions with regulators.
UBS did not immediately respond to a request for comment on the report, while Credit Suisse declined to comment.
Reuters reported last month that hundreds of Credit Suisse employees are quitting each week in a sign of the uncertainty gripping the lender as it is being taken over by its larger rival.
UBS CEO Sergio Ermotti on Friday warned of painful decisions about job cuts after the takeover, which he said he hoped would be formalized in the coming days.
