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For the second time in weeks, Barclays bankers are leaving for UBS. Six investment bankers in the US are on the move.
UBS appears to have found rich poaching grounds at Barclays, as it is hiring half a dozen investment bankers specializing in technology, media, and telecom companies, citing sources familiar.
According to the sources, Richard Hardegree, Laurence Braham, Ozzie Ramos, Richard Casavechia, Neil Meyer, Jason Williams, and Ken Tittle are those departing for UBS locations in New York, San Francisco, and Chicago.
The recent departures follow three more in April, when it was announced Marco Valla, Jeff Hinton, and Kurt Anthony are joining the UBS banking team in New York, with Valla appointed co-head of global banking alongside Javier Oficialdegui.
Although UBS wants to reduce its investment banking to 25 percent or less of risk-weighted assets as part of its new structure with the merger with Credit Suisse, it wants to stay active in certain sectors. The recent hires appear to confirm that.
Neither bank commented to Bloomberg about the departures, first reported by Reuters.