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July 13, 2022

UBS names new global wealth management chief

UBS Group has elevated Iqbal Khan as the sole head of the bank’s global wealth management business, effective 3 October 2022.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The appointment follows the decision by UBS Global Wealth Management (GWM) co-president and UBS Americas president Tom Naratil to step down from his current roles.

Khan joined UBS in 2019 and has been serving as GWM co-president, alongside Naratil.

Khan’s background as a financial and regulatory auditor and his risk management expertise, and focus on client outcomes and commercial impact make him the ideal person to lead GWM, the Swiss banking group said in a statement.

UBS appointed Naureen Hassan to succeed Naratil as president of UBS Americas and CEO of UBS Americas Holding. Hassan joins the bank from the Federal Reserve Bank of New York (FRBNY).

She will be responsible for growing client relationships, enhancing cross-business collaboration, navigating the evolving public policy landscape, and setting up a sound regulatory and reputational risk governance.

UBS Group CEO Ralph Hamers said: “I am delighted to welcome Naureen Hassan to UBS as President UBS Americas and to congratulate Iqbal on his expanded role as sole President Global Wealth Management.

“I also want to personally thank Tom for his leadership and significant contributions to UBS over the past four decades. He’s been a champion of our strategy and transformation and a vocal advocate of our diversity initiatives. I wish him all the best in his future endeavours.

“Our Global Wealth Management business and our Americas region are strategically important, and both offer significant growth opportunities for us. I am confident that Naureen and Iqbal will build upon Tom’s success and continue to deliver for our clients and achieve our strategic ambitions.”

Last month, Reuters reported that UBS head of strategy Christian Zeinler would stand down from his position and leave the bank to pursue entrepreneurship outside of financial service.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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