impact of a senior banker leaving the firm?

hi - i'm curious to know what happens when a senior banker leaves for a new firm. for example, the cohead of media and telecom just left credit suisse for barclays. does that mean he will bring some of his clients to the new firm? will the business he's been advising for change bank? is there a non-competing agreement that prevents a banker to poach businesses from previous firms?  

i guess the bigger question is what are the implications of a dealmaker leaving for a new bank, for both the bank he left and the bank he's starting anew? thanks!

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