UBS’s Iqbal Khan
Illustration: Christian Blaza for Bloomberg Markets
UBS’s Heir Apparent Faces New Tests and Ex-Colleagues at Credit Suisse
A megadeal’s aftermath poses fresh challenges for the Swiss bank and Iqbal Khan, the presumed CEO-in-waiting.
When Iqbal Khan joined UBS from rival Credit Suisse in 2019, the crosstown move sparked a tabloid scandal over a cloak-and-dagger surveillance operation on the star banker. But in this year’s forced marriage of Switzerland’s two biggest lenders, he’s been conspicuously low-key.
Seen by many insiders as a future UBS Group AG chief executive officer, Khan retained his pivotal role as head of global wealth management. But after a management reshuffle aimed at helping the combined entity meld its sprawling operations, other potential contenders emerged to succeed CEO Sergio Ermotti, who returned to UBS to lead the integration.