Swiss pot

26 June 2009 By Rob Cox Follow @rob1cox

The Swiss bank has accused the US broker of unlawfully poaching 36 healthcare bankers. Ironically, Jeffries is building its way into Wall Street s big leagues the same way UBS did. It even hired a former UBS bigshot who once called Jefferies a low quality firm.

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UBS filed an arbitration claim against Jefferies over the smaller US broker's raiding of 36 bankers in its healthcare team led by Benjamin Lorello and Sage Kelly.

The Swiss bank also sought and obtained a court bar against the two men starting work at Jefferies for 30 days. It said it obtained this injunction to ensure that Jefferies adheres to legal obligations and standard industry practices and to ensure departing staff are held to their notice periods and other contractual obligations.

The group included 11 managing directors.

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