UBS offers retention packages to Credit Suisse Asia wealth bankers -sources

HONG KONG (Reuters) – UBS promised retention packages to wealth management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the bank tries to stem a talent exodus after the takeover of its former Swiss rival.

In a town hall address in Hong Kong on Friday, Iqbal Khan, UBS’s president for global wealth management, also focussed on stabilising Credit Suisse Asia team and boosting confidence, said one of the sources.

UBS and Credit Suisse did not immediately respond to request for comment.

(Reporting by Xie Yu in Hong Kong and Scott Murdoch in Sydney; Editing by Sumeet Chatterjee and Christian Schmollinger)