Dozens of top brokers from Credit Suisse’s US private banking unit are unhappy over their proposed recruitment by Wells Fargo, creating an opening for rival brokerages to poach them, people familiar with the matter said.

Last week, the two companies announced a recruiting arrangement that lets Credit Suisse US brokers who are hired by Wells Fargo smoothly transition their practices and clients to Wells Fargo's brokerage arm by early next year. Credit Suisse is winding down its US private banking operations and Wells Fargo Advisors wants to deepen its presence in the ultrawealthy client arena.