UBS wealth management co-head Khan unveils plans to grow business: paper

“ZURICH (Reuters) – UBS executive board member Iqbal Khan wants to expand credit to rich clients as a way to grow the Swiss bank’s wealth management business, it was reported on Sunday” writes Midwest Communications Inc for Khan, along with Tom Naratil, the other co-head of UBS’s wealth management business are due to report back to the bank’s CEO Sergio Ermotti during December with their plans for the unit.The executive, wants to integrate more closely the activities of UBS’s asset management business with its investment bank, the newspaper reported.In the memo to staff, Khan said he also wants to grow UBS’s private equity, private debt, infrastructure and other unspecified asset classes.The memo is one of the first signs of Khan’s plans for the business he joined in October after quitting as head of the international wealth management business at Credit Suisse following a feud with Chief Executive Tidjane Thiam.

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