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FT: Credit Suisse snatches group of Mexican wealth managers from UBS

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FT: Credit Suisse snatches group of Mexican wealth managers from UBS

has hired away agroup of Mexican wealth managers from UBSGroup AG, the Financial Timesreported, citing "bankers close to the deal."

While the exactnumber of employees involved in the move is not clear, the FT put estimates between 12 and 30. Among those poached were five managingdirectors and other senior staff, according to the newspaper's sources.

The move comesmonths after Credit Suisse CEO Tidjane Thiam announced a new strategy by the Swiss bank focused more on wealth management,particularly in emerging markets.

Thiam reportedlyaims to build a new international wealth management division composed of 300 client-relationshipmanagers by 2018, with Mexico counted among its main target markets.