Bank of Montreal and UBS in recruitment spat

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Bank of Montreal has sued UBS in Houston federal court to recover confidential information allegedly taken by some bank employees who defected to the Swiss rival.

Bloomberg News reports that the bank’s BMO Capital Markets unit also sued four employees who recently submitted their resignations from its energy acquisitions and divestitures group, according to the filing Thursday.

'UBS and BMO employees orchestrated the illicit recruitment and hiring of 15 members of BMO’s Houston A&D Group', according to the complaint. They 'encouraged others' to violate employment agreements by soliciting BMO clients and taking proprietary information, the bank contended.

To access the complete Bloomberg News article hit the link below:

Bank of Montreal Sues UBS to Recover Data From Defectors

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