UBS Group To Maintain More Than 100 Credit Suisse Banks In Asia

UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia, as the Swiss banking giant plans to shore up talent in markets where its rival has a stronger presence.

According to people familiar with the matter, the bank is in advanced talks to retain dozens of Credit Suisse's senior dealmakers in countries such as South Korea, Thailand, Vietnam, and India following a planned takeover.

China was not included in Switzerland's largest bank's retention target of more than 100 bankers. It has held discussions with a few Chinese bankers, but the final number will be determined by discussions with regulators, according to the report.

UBS did not immediately respond to an inquiry about the report, and Credit Suisse declined to comment.

Hundreds of Credit Suisse employees resign each week, indicating the uncertainty that has gripped the lender as it is being taken over by a larger rival.

UBS Chief Executive Sergio Ermotti warned on Friday of painful job-cut decisions following the takeover, which he hoped would be finalised in the coming days.