Swiss bank UBS plans to hire unhappy dealmakers from investment banking boutiques as the Swiss lender aims to strengthen its mergers and acquisitions capabilities while its competitors lay off staff, Financial Times reported Friday, citing people with knowledge of the matter.
One of the sources said the bank would try to attract seasoned CEOs who believed there was little room for promotion at their current jobs and who felt "stuck in a rut." In that sense, UBS would offer generous packages to bankers who performed.
UBS declined to comment on its new hiring plans.
