UBS names global wealth management chief

Author of the article: NEW YORK — UBS Group AG, the world’s biggest wealth manager, on Monday named Iqbal Khan the sole head of the Swiss bank’s global wealth management division in an executive board reshuffle. Khan will take over in October when Tom Naratil, who had been Khan’s co-president of global wealth management and…
UBS names global wealth management chief

Author of the article:

NEW YORK — UBS Group AG, the world’s biggest wealth manager, on Monday named Iqbal Khan the sole head of the Swiss bank’s global wealth management division in an executive board reshuffle.

Khan will take over in October when Tom Naratil, who had been Khan’s co-president of global wealth management and president of UBS Americas, steps down, according to a press release from the bank.

Naureen Hassan, the second-ranking officer at the New York Federal Reserve, will replace Naratil as president of UBS Americas. Hassan served as first vice president and chief operating officer at the New York Fed, and prior to that worked at Morgan Stanley, the largest U.S. wealth management firm.

The changes come as UBS, under Chief Executive Ralph Hamers, works to leverage technology and integrate recent fintech acquisitions to increase revenues, expand its client base and cut costs.

Under Naratil, UBS in the Americas agreed to pay $1.4 billion for the U.S.-focused digital investing platform Wealthfront, which has more than $27 billion in assets under management and about 470,000 clients.

(Reporting by Elizabeth Dilts Marshall; Editing by Chris Reese and Richard Chang)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Indonesia bulls cheer better-late-than-never rate hike
Read More

Indonesia bulls cheer better-late-than-never rate hike

Author of the article: SINGAPORE — Indonesia’s first interest rate hike in four years made its central bank one of the last to abandon pandemic-era monetary settings, but it’s also given investors cause to stay bullish on one of the world’s more resilient emerging markets. Bank Indonesia raised its benchmark rate on Tuesday as it…
Malaysian ringgit, S.Korean won lead gains among Asia FX
Read More

Malaysian ringgit, S.Korean won lead gains among Asia FX

Author of the article: The following table shows rates for Asian currencies against the dollar at 0208 GMT. Currency Latest bid Previous Pct day Move Japan yen 114.600 114.63 +0.03 Sing dlr 1.346 1.3456 -0.04 Taiwan dlr 27.654 27.668 +0.05 Korean won 1189.100 1190.5 +0.12 Baht 33.320 33.35 +0.09 Peso 51.130 50.98 -0.29 Rupiah 14311.000…
Indian shares plunge 3% as Russian forces invade Ukraine
Read More

Indian shares plunge 3% as Russian forces invade Ukraine

Author of the article: BENGALURU — Indian shares tumbled 3% on Thursday as investors dumped risky assets after Russian troops fired missiles at several Ukrainian cities which Kiev said was a full-scale invasion, sending oil prices higher and stoking inflation worries. The blue-chip NSE Nifty 50 index was down 3.02% at 16,548.20 by 0509 GMT…