Former head of investment banking at UBS AG in Thailand Phumchai Kambhato has been hired by Deutsche Bank.
Competition for talent in the south-east Asian country is heating up after a spate of deals were completed in recent months.
This is the second high-profile departure for UBS in the region in 2013, after the head of its Singapore and Malaysia investment banking business Keith Magnus revealed he is to join US-based investment bank Evercore Partners in October 2013.
Mr Phumchai will join the German bank in a new role as its head of corporate banking and securities and head of corporate finance for Thailand, which is based in Bangkok.
Deutsche Bank is attempting to make headway in the south-east Asian region and has also hired Tan Boon Kee as its head of client coverage for the region from Goldman Sachs.
Morgan Stanley, UBS, Credit Suisse and Goldman Sachs are all established in the area and Deutsche Bank will be attempting to muscle in on some of their business with its own products and services.
By Tony Aynsley