UBS, the Swiss bank in the midst of restructuring its asset management business, has hired a team of fund managers and analysts from domestic rival Credit Suisse to build an active quantitative equities team.

Three portfolio managers and four analysts are to leave Credit Suisse Asset Management to join the nascent active quantitative equities team at UBS Global Asset Management. Portfolio managers Todd Jablonski and Eric Leng have already joined, and Patrick Zimmerman will join on July 1, according to UBS.