• 25 Jun 2009 at 4:17 PM

UBS Suing Everyone Who Leaves Them

By Bess Levin

Why is UBS getting so bent out of shape over losing its (ex) global head of healthcare and half the group to Jefferies? Maybe because it’s not the first time Jefferies has moved in on the Swiss’s bitches! Less than two months ago Jefferies performed what our favorite tax evaders would characterize as a (panty) raid on its quants, stealing Jatin Suryawanshi, who was head of algorithmic trading, and five members of the team. Now UBS is suing Suryawanshi, Partha Sakar, and Sanjay Girdhar on the claims that when they moved to Jefferies they took “prop trading secrets” with them. What they don’t include in the suit is the matter of not paying bonuses for 2008, which made the revenue generating prop team not very happy and was probably the reason they sought employment elsewhere.

UBS v Suryawanshi, Sarkar and Girdhar

Comments (12)

  1. 1
    Posted by guest | June 25, 2009 at 4:21 PM

    Suryawanshi, Partha Sakar, and Sanjay Girdhar??? GO TEAM INDIA!!!
    - Team India

  2. 2
    Posted by guest | June 25, 2009 at 4:28 PM

    Who would want proprietary trading secrets from UBS anyways? Hopefully that one gets laughed out of court.

  3. 3
    Posted by guest | June 25, 2009 at 4:38 PM

    one more time for the cheap seats: UBS sucks

  4. 4
    Posted by guest | June 25, 2009 at 4:52 PM

    should be less “than”

  5. 5
    Posted by guest | June 25, 2009 at 5:08 PM

    If those swiss nazis hadn’t ripped off all the jews in WW II that country would be Albania

  6. 6
    Posted by guest | June 25, 2009 at 6:08 PM

    Instead of spending their money one legal fees going after ex-employees, they should just pay them. But that would make too much sense.

  7. 7
    Posted by guest | June 25, 2009 at 8:03 PM

    So where are the jef algos? Is their new dept in CT?

  8. 8
    Posted by guest | June 26, 2009 at 9:21 AM

    Carney posted this story this morning w/ the teaser “Read our exclusive coverage and original court documents right here!”
    nice copy and paste job john: http://www.businessinsider.com/ubs-accuses-three-quant-traders-of-stealing-its-secret-code-2009-6

  9. 9
    Posted by guest | July 18, 2009 at 9:00 AM

    UBS sucks

  10. 10
    Posted by guest | March 19, 2010 at 6:08 AM

    “If those swiss nazis hadn’t ripped off all the jews in WW II that country would be Albania.” Well, that’s the most uninformed opinion I’ve come accross all week, congratulations.

  11. 11
    Posted by Anonymous | March 19, 2010 at 6:09 AM

    “If those swiss nazis hadn’t ripped off all the jews in WW II that country would be Albania.” Well, that’s the most uninformed opinion I’ve come accross all week, congratulations.

  12. 12
    Posted by Mike | March 19, 2010 at 9:51 AM

    “most uninformed opinion”: What do you expect from a bunch of quants :D

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