Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Employment lawLatest News

UBS wins court order to stop ex-employees poaching clients for new firm

by Charlotte Laken 8 Aug 2008
by Charlotte Laken 8 Aug 2008

After a ‘smash and grab raid’ on its British business, Swiss bank UBS has recently won a court order temporarily preventing former and departing employees from poaching clients.

The bank accused Vestra Wealth â€“ an investment company set up by former UBS executives â€“ of pursuing a secret campaign to create a separate business using UBS staff and clients.

UBS won the first round of the legal battle in the High Court after Mr Justice Openshaw imposed a temporary restraining order on Vestra.

The judge said UBS had presented a “formidable case”, and pointed to transcripts of correspondence between the defectors as evidence that former senior employees at UBS conspired over several months to convince staff and clients to move to Vestra.

In its defence, Vestra produced 40 e-mails and letters from departing employees voicing their dissatisfaction and concerns with UBS. Yet the judge found the evidence “quite unconvincing” and concluded: “It was far more likely, in my judgement, to be unlawful conspiracy dressed-up as lawful competition.”

The judge added that David Scott â€“ the founder of Vestra â€“ was entitled to recruit former colleagues and to attract UBS clients, but was not permitted to lift an entire client base.

UBS, “devastated” by the loss of 75 employees to Vestra since May, said: “This legal action was to ensure that certain senior departing employees abided by the contractual obligations they agreed to when they joined UBS and to defend UBS’s legitimate business interests.”

Stephanie Dale, head of employment at Stevens & Bolton, commented: “The judge’s decision underscores the potency that restrictive covenants can give to an employer in protecting its business.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

“It is likely that more employers will be looking to include additional restrictions in contracts preventing employees joining together to compete after leaving.”

Vestra was unavailable for comment. A full trial will be held in early October.

Charlotte Laken

previous post
Personnel Today Top 40 Power Players 2008: have your say
next post
Friday podcast – 8 Aug 08: McDonald’s and police recruitment, and UBS poaching

You may also like

Performance management is broken: how can we rebuild?

11 Jul 2025

Gregg Wallace case: don’t be too hasty to...

11 Jul 2025

‘Replace sick notes with gym’, Streeting tells GPs

11 Jul 2025

Workers with second jobs at an all-time high

11 Jul 2025

How using data can transform return-to-office mandates

11 Jul 2025

Ministers loosen fire and rehire proposals in Employment...

10 Jul 2025

£188k tribunal award for director sacked after cardiac...

10 Jul 2025

It’s no secret – parity in the workplace...

10 Jul 2025

Firms’ salary secrecy means ‘they lose out on...

10 Jul 2025

Court of Appeal rules that Ryanair agency pilot...

9 Jul 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+