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UBS Energy Team Defects To Warm Embrace Of Vikram Pandit?

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Apparently, yes. We're told the "majority if not everyone" from the Houston energy office, headed by Stephen Trauber and said to be considered "the best division at UBS," walked out last night and is headed for Citi.

Additionally: "You've got to figure this is a big fist in the v for UBS and a decent win for Citi, long regarded as the bottom tier in that department (even behind the energy boutiques)."