NEW YORK - UBS Securities Inc. snagged another Salomon Brothers' banker this week, bringing to five the number of financial institutions specialists who have made that move from Salomon.
Tod Perkins, a vice president in the financial institutions group at Salomon, will move to UBS' financial institutions group, where he will also be a vice president.
He follows Salomon's managing directors Gerard Smith and Brenda White, vice president Alan Ginsberg, and executive Richard Barrett, who moved to the UBS group earlier this week.
In all, more than 20 managing directors have left Salomon this year as the firm has moved to rein in runaway executive compensation.
A UBS spokeswoman said not to expect the Union Bank of Switzerland unit to hire more Salomon people, though she said it would still like to hire more financial institutions specialists from elsewhere on Wall Street.