Clever heads, which have bite and endurance, and for the top job at a major Swiss Bank are suitable, in Switzerland are scarce. Belongs to this rare species also Iqbal Khan (43) for some years. According to the CS, the UBS is now hoping for his Golden hands.
Khan takes over from 1. October, the Co-management of the asset management of the UBS, shares the Job with Tom Naratil (58). A change that had not been announced as of the Swiss-Pakistani descent Credit Suisse returned to the beginning of July, surprising the back.
Coup, the UBS
industry insiders suspect that the change from a long time it was planned. Evidence that Khan was within a few weeks from the fallen crown Prince in the case of the CS to the new crown Prince and bearer of hope at UBS.
Also: In such a Topjob one waits a few months until you get to the competition. Such so-called Abkühlperioden in the economy, is common in the policy you are expected to be in the Federal councils, at least.
Regardless of how hard the struggle of the two big banks to Khan, UBS achieved a veritable Coup, the wipes many of the personnel problems of the big Bank off the table.
Khan could be the boss of the group
so simple (is likely to), the successor to the top management of the group look: Chairman of the Board, Axel Weber (62) remains to 2022 in the office and then retired. His Job is the current group CEO Sergio Ermotti (59) then takes on the CEO Post after Iqbal Khan.
This Khan would be qualified without question. He is considered the lightning to create a clever lateral thinker with enough ambition to make it to the top of UBS. The commercial Talent has Khan inherited from his father, who was in Pakistan, a successful business man. The father decided at the end of the 1980s, for safety reasons, otherwise, in the home of his wife to emigrate. After a Childhood in the million-metropolis of Karachi (Pakistan) found the twelve-year-old Iqbal Khan suddenly in dübendorf ZH again.
In a detailed portrait of the “balance sheet signed” a year ago, the steep rise of the uprooted young. After the commercial apprenticeship in a trust company in Dübendorf Khan attended a training course after another, with 26 years the youngest qualified accountant of Switzerland, at the age of 31 years, the youngest Partner at the consulting firm Ernst & Young (today EY). In between, he completed a degree in international business law.
At EY Khan directs receives the Financial Services sector, through his work as an Advisor to insight into the Credit Suisse and the financial world. And changes in 2013 to the big Bank. There he rolls up his successful international asset management, delivers impressive results.
Khan’s performance in asset management makes him the prospect of the crown Prince range in the UBS. This area is facing problems at the largest asset management Bank in the world, is a reason that the stock price does not come from the spot.
But Khan has a Problem: He is not alone, to share the Director’s chair in asset management at UBS, with the Americans Naratil, therefore can not switch for the time being, so, and exercise, as he has done so successfully in the case of the CS.
makes the fight inevitable
And also from the new chief, there is no full support: “We have at least three good internal candidates,” extended Sergio Ermotti, yesterday, Thursday in the “NZZ” the field of his possible successor. This also includes Sabine Keller-Busse (52), the operational head of the Bank in addition to Khan and Naratil.
What in the Morning like a brilliant move on the part of UBS, namely, the clear regulation of personnel issues at the top, reveals itself at night as an invitation to an extended scramble Makes looked at the top. Accordingly, restrained the stock market responds to the change on the parade square. In a generally positive stock market environment, both big Bank shares to be a far – the CS a little more than the UBS. The great liberation looks different.