UBS AG has lost ten private bankers to its rival, Rothschild Bang AG Zurich, according to reports from Forbes.
The bankers will report to Thomas Pixner, head of Rothschild's German-speaking Europe and Central & Eastern Europe division.
The bank is trying to increase the number of client relationship managers and the new recruits have an average of 18 years of work experience.
The recruitment follows the appointment of two teams that were hired from Credit Suisse Group unit ClaridenLeu, which is responsible for Eastern Europe and Central Asia.
Another team that covers southern Europe and Latin America, was hired from BBVA SA.
Rothschild moved to Switzerland and was only resurrected in France in 1986, earlier this year Guy de Rothschild died, aged 98.
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