Credit Suisse has hired an experienced UBS banker to bolster the International Wealth Management division.

Credit Suisse (CS) snapped up Alessandro Caironi from UBS, according to an internal CS memo of last night. He has been appointed to head the UHNWI-teams in Europe at the International Wealth Management (IWM) division.

Caironi, based in Zurich, started in his new function at the beginning of the month and reports to Claudio de Sanctis, head of private banking Europe.

Business With the Rich

He is part-responsible for the strategic development of the business with rich clients (UHNWI) within IWM Europe. Caironi will also develop custom-made investment solutions for this segment of clients.

The banker was at UBS, the cross-town rival, for about a decade and responsible for capital market sales and capital markets UHNW in Asia Pacific. Previously he was honed in several management positions at UBS in Hong Kong and Singapore.