Two UBS client advisers who were part of a controversial exodus of executives to join Vestra, a start-up wealth manager, have decided to remain at the embattled Swiss bank.

The volte-face by David Guild, senior fund manager, and Keith Merrick, an adviser, is a victory for UBS in its bitter dispute with Vestra founder David Scott, a former senior fund manager at UBS.

Mr Scott stunned the bank in May by luring 52 staff to Vestra before hiring another 13.

UBS won a court injunction earlier this month to prevent the Vestra employees from poaching its investment clients or more of the the bank's staff. A full trial at the High Court is set down for October 2.

UBS accused Mr Scott, with Mr Guild and fellow fund managers Duncan Carmichael-Jack, Neil Pedley and Paul Pollard, of an unlawful conspiracy to lure away its staff and clients.

A spokeswoman for UBS in London today confirmed that Mr Guild and Mr Merrick would be staying but would not comment further.

In trying to prevent the High Court injunction, Vestra argued that, as a start-up company, restricting who it could and could not approach could severely damage its business.

Vestra, which is minority owned by UBS rival Goldman Sachs, opened for business last Monday. Most of the staff involved in Vestra previously worked for Laing & Cruikshank, the stockbroker bought by UBS in 2001.

If UBS clients approach Vestra, it is obliged to turn them away until the trial is complete.

A spokesman for Vestra said Mr Guild had been due to become one of about 20 partners at the London company but his decision to return to UBS had in no way hampered Vestra's start. He also confirmed that Mr Merrick would no longer be joining Vestra.

"Vestra is very much open for business, we've been delighted with the support we've received," he said.

This spat is the second time that UBS has had to fight to keep clients from former Laing staff. Michael Kerr-Dineen, who sold Laing to UBS, left the investment bank in 2006 with 50 colleagues to start Cheviot Asset Management.

More than 3,000 UBS clients are believed to have switched to Cheviot.

Times Recommends

• Lies and cover-up at MG Rover exposed by report
• High oil prices push manufacturing costs up
• Primark founder steps down as chief executive