UBS aims to prevent departing execs from taking clients

08/1/2008 | Times (London) (subscription required), The

UBS is seeking a temporary injunction from the High Court to prohibit executives leaving the embattled Swiss bank from taking important clients with them. The injunction is against a new wealth manager, Vestra Wealth, founder David Scott and four fund managers. "This legal action is to ensure that certain senior departing employees abide by the contractual obligations that they agreed to when they joined UBS and to defend UBS' legitimate business interests," the bank said.

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