FILE PHOTO: Iqbal Khan, CEO International Wealth Management of Swiss bank Credit Suisse attends the company’s annual shareholder meeting in Zurich, Switzerland April 26, 2019. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – Swiss bank UBS will appoint former Credit Suisse banker Iqbal Khan as head of its wealth management business, Swiss newspaper TagesAnzeiger reported on Wednesday, citing unnamed UBS sources.
Khan will join the executive board “shortly” the newspaper said, without giving further details.
UBS declined to comment on the report published on the newspaper’s website on Wednesday night.
Khan had successfully led Credit Suisse’s international wealth management business since 2015 but left Switzerland’s second-biggest bank this summer in a surprise move that triggered speculation about his career plans.
Khan had previously been mentioned as a possible candidate to succeed UBS Chief Executive Sergio Ermotti.
UBS’s global wealth management business is currently co-managed by Martin Blessing and Tom Naratil.
Reporting by Silke Koltrowitz; Editing by Kirsten Donovan