FILE PHOTO: Iqbal Khan, CEO International Wealth Management of Swiss financial institution Credit Suisse attends the corporate’s annual shareholder assembly in Zurich, Switzerland April 26, 2019. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – Swiss financial institution UBS will appoint former Credit Suisse banker Iqbal Khan as head of its wealth administration enterprise, Swiss newspaper TagesAnzeiger reported on Wednesday, citing unnamed UBS sources.
Khan will be a part of the chief board “shortly” the newspaper stated, with out giving additional particulars.
UBS declined to touch upon the report revealed on the newspaper’s web site on Wednesday night time.
Khan had efficiently led Credit Suisse’s worldwide wealth administration enterprise since 2015 however left Switzerland’s second-biggest financial institution this summer time in a shock transfer that triggered hypothesis about his profession plans.
Khan had beforehand been talked about as a attainable candidate to succeed UBS Chief Executive Sergio Ermotti.
UBS’s international wealth administration enterprise is presently co-managed by Martin Blessing and Tom Naratil.
Reporting by Silke Koltrowitz; Editing by Kirsten Donovan