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UBS Investment Banking Meltdown, June Edition

UBS
UBS

UBS's investment bank continues to wilt.

Wednesday, Citigroup announced that it hired two top investment bankers—including the co-head of global M&A—from the Swiss bank.

Today's defections are: James Glerum, the co-head of UBS’s Midwestern operations and its head of diversified industrials, and Cary Kochman, co-head of global mergers and acquisitions at UBS.

They will join Kevin Cox, formerly head of Americas investment banking at UBS , who became Citi's co-chairman of industrials investment banking.

UBS is certainly making a lot of money for banking headhunters these days.

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