Nearly a year ago the core of Salomon Brothers' highly touted financial institutions group moved to UBS Securities, lured by million-dollar salaries and the prospect of building an investment bank from scratch.

In the last year, the team has scored some impressive victories, including structuring the sale of National Westminster Bank's U.S. retail operations to Fleet Financial Group. By yearend 1995, UBS ranked 10th among bank merger advisers; in 1994, it didn't even place in the top 50.

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