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UBS has set itself ambitious growth targets. “We want to invest heavily in the US over the next three years and catch up with the leading providers,” Iqbal Khan, head of global asset management, told “NZZ am Sonntag”.
Clients expect UBS to be the counterpart to the oligopoly of U.S. banks: “We have a unique opportunity to be a truly global bank headquartered in Switzerland,” Khan said. The bank has set itself the goal of acquiring new customer assets of $150 billion annually.
Khan explains concerns that UBS’s size could become a risk: On the contrary, its global presence is an advantage because it provides greater stability and makes the business more predictable.
“The most talented person in every position”
Khan wants to build the trust of former CS bankers who have now joined UBS “with transparency and presence”. “Employees want clarity to deal with challenges. This applies to all employees. “The distinction between CS and UBS is not important to me,” he emphasized.
It is of great importance that the integration is carried out according to fair, transparent and meritocratic criteria. “Everyone needs to be able to clearly understand that we select the most talented and suitable person for each position.”
Khan also rejected claims that he was partly responsible for the collapse of the Greensill funds, as he was a member of Credit Suisse’s management team until 2019. “I have never met Mr Greensill and have never spoken to him.” Moreover, neither internal nor external investigations by Finma detected any misconduct on his part.
“He is a fair boss”
But he didn’t want to say anything about Archegos. “It’s not my job to comment on Archegos. “It’s not my job,” he said simply.
Khan, 47, is one of the candidates to one day replace CEO Sergio Ermotti. However, Khan explained that this discussion happened too early, especially because Ermotti’s footprint was so large. “The collaboration is great,” he told Ermotti. He is a tough but fair boss. Sergio is fortunate for our bank.” (pbe/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
