UBS Australia has poached a team of seven JP Morgan employees to work in the firm's real estate investment banking business.
The ex-managing director of JP Morgan's real estate banking division Tim Church is set to head up the UBS property team, bringing six other colleagues with him.
Church negotiated with UBS to bring across Ian Richards, who will join the team as executive director, while Nick Thomson will take up the role of director and Ben Roberts has been appointed associate director.
Both Mitchell Schauer and Amy Toepher will work as analysts, while Jessica Alchin will be the team's assistant.
UBS did not have an exact date when the ex-JP Morgan team would be working in their new roles, a company representative told InvestorDaily.
"There will be some gardening leave arrangements with JP Morgan. I think the majority of them have about three months gardening leave. They have resigned from JP Morgan though," the representative said.
"[Church] is just bringing his team across, and also we needed a property team. Obviously they've been in talks for a while and he negotiated to bring his team across. He headed up the team at JP Morgan and so he will do the same here."
