- UBS Group AG is the world’s biggest wealth manager.
- On Monday named Iqbal Khan as the sole head of the Swiss bank’s global wealth management division.
- Naureen Hassan, the second-ranking officer at the New York Federal Reserve, will replace Tom Naratil as president of UBS Americas.
UBS Group AG (UBSG.S), the world’s greatest abundance chief, on Monday, named Iqbal Khan the sole top of the Swiss bank’s worldwide abundance the board division in a leader board reshuffle.
Khan will take over in October when Tom Naratil, who had been Khan’s co-leader of worldwide abundance the executives and leader of UBS Americas, ventures down, as per a public statement from the bank.
Naureen Hassan, the second-positioning official at the New York Federal Reserve, will supplant Naratil as leader of UBS Americas.
Hassan filled in as the first VP and head working official at the New York Fed, and preceding that worked at Morgan Stanley, the biggest U.S. abundance of executives firm.
The progressions come as UBS, under Chief Executive Ralph Hamers, attempts to use innovation and coordinate late fintech acquisitions to increment incomes, grow its client base, and reduced expenses.
Under Naratil, UBS in the Americas consented to pay $1.4 billion for the U.S.- centered advanced financial planning stage Wealthfront, which has more than $27 billion in resources under administration and around 470,000 clients.