UBS’s Iqbal Khan to Restructure Ultra High Net Worth Unit

UBS is planning to restructure its ultra high net worth unit, a move led by Iqbal Khan, who joined the company recently. This restructuring is expected to cause some internal disruptions and job cuts. UBS's CEO, Sergio Ermotti, has given Khan 60 days to propose solutions for rejuvenating the wealth management sector. The changes at UBS are compared to its rival, Credit Suisse, highlighting UBS's leadership in the sector but also its slower growth compared to Credit Suisse. The focus for UBS is to increase business with existing clients rather than seeking new ones.

What is the main reason for UBS's restructuring of its ultra high net worth unit?

• To reduce costs and management layers

• To expand into new markets

• To merge with another bank

• To increase the number of clients

What task has UBS CEO Sergio Ermotti assigned to Iqbal Khan?

• To propose solutions for wealth management rejuvenation

• To acquire a new bank

• To hire new management staff

• To develop a new marketing strategy

When is UBS expected to provide an update on its wealth management strategy?

• In June

• In December

• In January

• In March

How does UBS plan to grow its business according to the discussion?

• By expanding into new countries

• By reducing its workforce

• By increasing business with existing clients

• By acquiring new clients

What was Credit Suisse's position compared to UBS in recent years?

• It was lagging behind UBS

• It was merging with UBS

• It was leading in growth

• It was focusing on new client acquisition