Credit Suisse Group (CS) said it is hiring three bankers for its Spanish private banking arm, in a bid to bolster its business with Spain's wealthy.

The Zurich-based bank is hiring former M&G Valores analyst Mariano Alierta Sancho and former Caixa and Morgan Stanley (MS) private banker Rocio Ceron Sanchez as client advisors, as well as UBS AG (UBS) banker Veronica Lopez-Ibor Vega-Penichet for the fund management arm of its private bank in Spain.

The positions are new ones, a spokeswoman for the bank said.

"We continue to be proactive about monitoring the size of our business relative to client opportunities and market conditions. This involves realigning resources to growth areas and adjusting capacity to meet client needs and to manage costs across the business," the bank said in an email.

Spain is one of the main strategic European markets that larger Swiss banks such as Credit Suisse have begun tapping, as offshore business in Switzerland shrinks.

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