UBS boss hails banking ‘trifecta’ as Swiss lender seals merger

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The Asia-Pacific region is increasingly important for the bulked-up bank, and moving its global wealth head to the region has buoyed its Australian leader.

Already a subscriber?The head of Credit Suisse’s local private bank now tasked with running wealth management at UBS says the combination of the two Swiss giants into a “trifecta” investment bank will give it an advantage over rivals in the race for clients., said the completion of the takeover this month had connected his team to UBS’ industry-leading banking and markets divisions.Oscar Colman

The Swiss bank, which manages about two-thirds of the world’s billionaires’ money, is also undergoing a landmark shift of its own. After completing the parent bank merger with its former rival, UBS reshuffled the top of its executive ranks, and promoted its global wealth head Iqbal Khan to president of UBS’ Asia-Pacific business.

“Wealth management has always been about liquidity and longevity, or ‘money for me now, and my family and then legacy’. is this bucket where you ask: ‘Where is most of the wealth going to end up?’“What keeps awake at night? It is their family legacy. Wrestling with the fact you are stewarding huge pools of capital. You can have a huge impact,” Mr Hall said.

 

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