(Bloomberg) -- UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia, seeking to shore up talent in markets where its Swiss rival has stronger presence, according to people familiar with the matter.

The bank is currently in advanced discussions to keep dozens of Credit Suisse’s senior dealmakers in the region, spanning from Korea, Thailand, Vietnam to India, proposing compensation targets for a group of managing directors, the people said, asking not to be identified because the matter is private. 

Among the people targeted to stay on is Allan Chu, Asia-Pacific head of telecommunication, media and technology, as well as various country heads in Korea and some of the Southeast Asia markets, according to the people. UBS will also retain a considerable number of bankers in India, where the merger will enable it to rebuild its presence after shutting down the local team in late 2021.

The retention target of more than 100 bankers doesn’t include China, where the two banks have considerable overlaps. In mainland China, UBS has held talks with Janice Hu, Credit Suisse’s country chief executive officer, as well as a few other senior bankers, the people said. Hu’s role is still being discussed. The final number of China bankers being kept will depend on discussions with regulators, they added. 

Media representatives at UBS in Hong Kong and Credit Suisse in Singapore declined to comment. Hu and Chu didn’t respond to requests for comment.

UBS is making a global push to boost its technology banking reach, and is prepared to tap bankers focusing on general industries dealmaking, the people said. The offers will not come into effect until after the merger completes, the people said.  

The Swiss lenders are in the final stages of completing a $3.2 billion merger orchestrated by the government in March as Credit Suisse was teetering on the edge of collapse. It’s unclear how many Credit Suisse bankers will stay in the end as some may opt to join rivals.

UBS will conduct more formal on-boarding processes after gaining access to details on deals and clients at Credit Suisse, according to the people. Asia-Pacific had $5.6 billion revenue in 2022, contributing 16% of the global tally.

The lender expects to complete its acquisition of Credit Suisse as early as June 12, it said in a statement on Monday. It has created global integration committees spanning the wealth, asset management, and investment bank divisions. 

(Update with merger timetable and APAC revenue in last two paragraphs)

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