Recall that last month Jefferies hired three dozen employees--an entire healthcare banking unit--away from UBS. The Swiss giant wasn't about to take that. It sued, calling the move a "massive, premeditated raid." UBS specifically held two senior healthcare bankers--Benjamin Lorello and Sage Kelly--accountable. It sought and received a temporary restraining order against Jefferies, Lorello and Kelly.

But now Reuters reports that the two firms have settled the dispute. What remains a mystery are the terms the two sides agreed to. Not too long ago, I was expecting more of this sort of activity. But after the credit crunch, bankers are more plentiful. Still, hiring at the very top can be a combat sport. 

For more:
- here's the Reuters item

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