August 23, 2021
Louis Diamond Quoted
By Miriam Rozen and Mason Braswell
UBS Wealth Management USA has recast its offers for private bank recruits as it looks to make its recruiting deals more attractive to the non-traditional hiring pool, according to two recruiters with knowledge of the firm’s deals.
UBS’s willingness to put more money on the table upfront likely signals that its bank recruits have been paying off, said Louis Diamond, an industry recruiter in New Jersey. Private bankers have clients with significant assets who are interested in borrowing, including commercial lending, and might use the wirehouse’s investment banking unit’s services, he said.
“Honestly, they are great businesses to go after, as long as you price them right. And UBS kind of cracked the code,” said Diamond, who noted he was not familiar with the modified UBS offers.
