UBS Poaches nearly all of BMO's Houson Oil Banking Team

Not sure if this is old news or has been posted (or if anyone even cares) but curious if there is anyone plugged in to the deal or has any other interesting insight.

Reuters Story

Don't consider myself an expert by any means but I don't think this happens too often, does it? How would something like this even go down? UBS starts talking to some of the senior guys and then says "pick your best 10-12 to come" ?? To be honest I feel a bit bad for BMO!

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