UBS Suing Everyone Who Leaves Them

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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

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