UBS signals desire to recruit top private bankers with Credit Suisse hire
UBS has hired Philippe Tschannen to drive the bank’s recruitment efforts for senior private bankers after a period of turmoil at the Zurich-based bank. Tschannen joins from Credit Suisse where he was part of a team of in-house head-hunters leading the bank’s wealth management recruitment strategy.
At UBS, Tschannen will be head of executive recruitment and will “support the existing recruitment staff's effort to search for and recruit top talents,” a spokesman from UBS said.
The appointment of in-house head-hunters at private banks appears to becoming more common. Julius Baer and RBS Coutts in Switzerland have brought specialist head-hunters in-house in recent months.
Analysts say that the practice was started by Alex Widmer when he was at Credit Suisse, where he recruited a team to lead the bank’s hiring efforts in wealth management. The team was led by Marcel Roca.
Widmer has followed a similar strategy at Julius Baer, where he now heads the private banking unit.
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