UBS is reportedly looking to retain over 100 investment bankers from Credit Suisse across various markets in Asia.
In the midst of an integration between UBS and Credit Suisse, the former is looking to retain over 100 investment bankers in Asia from the latter, according to a «Bloomberg» report citing unnamed sources.
Among those targeted for retention is Allan Chu, APAC head of telecommunications, media and technology. Others being targeted are from markets including Korea, Thailand, Vietnam and India.
China Uncertainty
The retention initiative does not include China where the two banks have considerable overlaps. UBS has held talks with Credit Suisse China chief executive Janice Hu, whose role is still being discussed, as well as a few other senior bankers. The final number of China bankers to be retained will depend on discussions with regulators.
Compensation targets are being proposed to senior bankers though no offers will come into effect until after the completion of the merger.
