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Iqbal Khan wants to take more risks

The arrival of Iqbal Khan at UBS puts to the test the notorious risk aversion of the group. The chief of mutual fund management wants to lend more money to wealthy clients.

The granting of loans and the imposition of a heavier burden on the balance sheet, in the framework of Sergio Ermotti's CEO have not been a privileged means of growth for wealth management . generate. With Iqbal Khan this changes definitively.

The new head of Wealth Management wrote, according to the Bloomberg news agency and the "Sunday paper" (item to pay) in A memo to that the development of loans for wealthy clients is one way to create more growth.

Growing up

He wanted to see "rapid progress," the 43-year-old wrote, thinking long-term. strategic solutions work. Khan joined UBS in October, where he now runs wealth management with Tom Naratil . The change of competitor was preceded by the espionage of Khan by Credit Suisse (CS), who recently headed Wealth Management.

million. Khan said that UBS should not only keep its competitors at bay, but also strengthen their lead. Khan intends to launch new initiatives in the areas of private equity, private debt, infrastructure and other asset classes. He also wanted to integrate more closely the asset management and investment banking activities.

Financing Complex

The Sunday newspaper continued to write that it was obvious that UBS wanted not only to expand its Lombard loan portfolio, but also looking for growth also with structured loans. In particular, financing instruments could be offered for the purchase of yachts or private aircraft, a field in which CS had accumulated considerable know-how.

A UBS spokesman said credit was a top priority for customers. at home, but our appetite for risk and our risk limits are not changed. "

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