Alison Tudor, Wall Street Journal, January 13, 2011
HONG KONG—The battle for financial-services talent in Asia is causing costs to spiral and will lead to a shakeout in the industry, UBS AG's joint chiefs for the region warned in an interview.
Banks such as Barclays PLC, Deutsche Bank AG and Citigroup Inc. have been ramping up headcount since the financial crisis, seeking to advise the region's wealthy entrepreneurs and fast-growing companies.