The Swiss giant is hiring a key banker to help wealth management and investment banking businesses collaborate.

UBS is hiring Jean-Marc Botteri, a managing director in Credit Suisse's capital market solutions group, «Financial News» (behind paywall) reported. Botteri is to strengthen a new unit at UBS conceived to increase collaboration between the wealth management and investment banking businesses, from August.

Botteri's hire follows that of Remi Mennesson one year ago from Credit Suisse entrepreneur's bank to set up a financing team for UBS' wealthiest clients. Both men are key allies of UBS wealth management co-head Iqbal Khan.