Wells Fargo Set to Purchase Credit Suisse US Private Bank

Posted on October 27th, 2015 at 4:39 PM
Wells Fargo Set to Purchase Credit Suisse US Private Bank

From the Desk of Jim Eccleston at Eccleston Law LLC:

Almost 250 ‘Relationship Managers’ and hundreds more operations personnel and executives at Credit Suisse US Private Bank officially may become part of Wells Fargo.

Wells Fargo appears to be the bid winner.

A common prediction is that most of the advisors with Credit Suisse will end up on Wells Fargo’s UHNW platform - Abbott Downing. Both offer elite client services. If this is true, it would mean that Abbott Downing would double in its size and would be able to complete with Merrill’s PBIG and Morgan Stanley’s PWM units. Some reps may choose to go elsewhere.

Whenever reps choose to go, they should retain securities counsels to review their employment documentations and negotiate the new deal.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law LLC, James Eccleston, eccleston, Eccleston Law, Wells Fargo, Credit Suisse, UHNW, Abbott Downing

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