Credit Suisse has poached one of the most senior UBS wealth managers in London to head its ultra-high net worth team, WealthBriefing can exclusively report today.

Ian Dembinski has stepped down from his role as managing director and senior client advisor at UBS’s UK wealth operation. He will take up the role of managing director and segment head for ultra high net worth individuals at Credit Suisse’s UK/international division, effective from February next year. He will report to Blake Shorthouse, head of the ultra high net worth individuals business in the EMEA region, and Mark Hirst, head of the market area for UK/international.

In his new role, Mr Dembinsky’s responsibilities for the UK and international market include Africa, Israel, the Netherlands and Nordic countries, this publication has learned.

Previously, Mr Dembinsky worked at UBS for 24 years, where he was most recently head of the key client Team, based in London.

During his tenure at UBS, he held a variety of senior positions within the bank’s wealth management and investment banking divisions, including Head of Nordic debt capital markets group, and head of the leisure sector team.

Currently heading up UBS’s wealth business in the UK are Chris Houlding, head of key clients and head of utra high net worth, and Mike Bishop, head of private wealth management.

Mr Houlding took on Mr Dembinski’s responsibilities in September.

There have been a number of defections from UBS to its Zurich-listed rival. For example, Mark Chamberlin left UBS to work for Credit Suisse last year. He had managed UK private clients’ discretionary and advisory portfolios. Tee Fong Seng, meanwhile, took on the vice-chairman's role at Credit Suisse in Asia with responsibility for the super-rich, reporting to former UBS colleague Marcel Kreis.

Additional reporting by Tom Burroughes.