Promotion in a big bank
Iqbal Khan is expanding his power at UBS
At large UBS Bank, Iqbal Khan will be the sole head of the wealth management division. Tom Naratel, co-head of the most important division of the main bank, will resign from his duties at UBS at the beginning of October 2022 and leave the management of the group.
Publication date: 06:48 AM
|
Updated: 31 minutes ago
In addition to co-leading the wealth management business, Naratel is also the Head of US Operations. Noreen Hassan has been named as his successor as President of UBS Americas and CEO of UBS Americas Holding, according to a UBS statement. She joined the main Swiss bank from the Federal Reserve Bank of New York and will take a seat on the Executive Board of UBS.
Khan is the perfect choice to lead the global wealth management business. It will ensure the smooth implementation of UBS’s global growth strategy. In addition to his job as Co-Head of Asset Management, the 46-year-old Swiss is also responsible for the Europe, Middle East and Africa regions.
Khan switched from rival Credit Suisse to UBS in 2019. At the time, the change raised a lot of dust over the “espionage case”, which eventually led to the resignation of Tidjan Thiam, CEO of Credit Suisse.
There was already speculation in the media over the weekend about Khan being promoted to the position of sole head of asset management. According to media reports, Khan could be appointed as a possible successor to CEO Ralph Hammers. However, it does not appear that a successor to CEO Ralph Hammers is imminent at the moment. The Dutchman has only been in office since the fall of 2020.
(SDA)
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
USA: It is clear that the economy is losing momentum at the beginning of the year
Chocolate storm in Türkiye – the Swiss are confused
Big Topics at New UBS's First General Meeting – News