Credit ##isse has filed an ethics claim with the securities Industry Regulatory Authority ( FINRA ) accusing a unit of UBS of unfairly hiring staff from its US private banking business over the past few months , say sources . This move comes just as Credit Suisse shut down its US unit as part of its restructuring and cost cutting strategy . As we previously noted in October , Credit Suisse had an arrangement to transfer its US private banking business to Wells Fargo ; these departures to UBS have hurt this plan by Credit Suisse .
Credit Suisse has filed an arbitration claim with the Financial Industry Regulatory Authority (FINRA) accusing a unit of UBS of unfairly poaching staff from its US private banking business over the past few months, say sources. This move comes just as Credit Suisse winds down its US unit as part of its restructuring and cost cutting strategy. As we previously noted in October, Credit Suisse had an arrangement to transfer its US private banking business to Wells Fargo; these departures to UBS have hurt this plan says Credit Suisse.