The fight is on for C Suisse private bankers

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Top Credit Suisse private bankers are being fought over by competitors after Wells Fargo struck a recruitment deal with the firm, the bank’s head of wealth management said.

'There’s a little bit of a feeding frenzy for some of the higher-end producers', David Carroll, who runs Wells Fargo’s wealth- and investment-management division, said Wednesday at a conference in New York. He said Wells Fargo has entertained 211 of Credit Suisse’s 270 or so advisers at its St. Louis brokerage headquarters.

Bloomberg News reports that Wells Fargo reached an agreement last month with Credit Suisse giving it the inside track on recruiting the company’s private-bank employees as the firm retreats from managing wealth for U.S. clients.

The deal would allow U.S. advisers and clients to move to Wells Fargo by early 2016, the banks said.

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

Wells Fargo Sees ‘Feeding Frenzy’ for Credit Suisse Bankers

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