UBS tries to block healthcare banker exodus to Jefferies

June 26, 2009

UBS received a temporary restraining order earlier this week against Jefferies and two of its former health care bankers, Benjamin Lorello and Sage Kelly, preventing them from starting work at Jefferies for 30 days. The order also prevents Jefferies from poaching other UBS bankers until July 20.

This is not the first time UBS has gone to court to make sure its employment contracts are honored. The Swiss bank sought an injunction against rival Vestra Wealth last year in London, after 75 of its wealth managers left for the start-up.

The order against Jefferies and the bankers is posted below.

UBS/Jefferies order

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Interesting article


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