Wells Fargo Company and Credit Suisse have signed an exclusive recruiting arrangement under which relationship managers and their clients in Credit Suisse’s US Domestic Private Banking business can move to Wells Fargo Advisors, the brokerage unit of Wells Fargo, by early 2016.

The two companies will strategically strengthen their relationship by making more Credit Suisse investment-banking and asset-management products available to Wells Fargo distribution network.

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Wells Fargo wealth and investment management head David Carroll said: "We look forward to welcoming U.S. Private Banking relationship managers from Credit Suisse and are committed to strengthening their relationships with their clients."

Credit Suisse head of private banking & wealth management and CEO of the Americas region Rob Shafir said: "Credit Suisse remains committed to continuing to provide ultra-high-net-worth U.S. clients with a strong investment banking and asset management institutional offering."

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