ZURICH: UBS executive board member Iqbal Khan wants to expand credit to rich clients as a way to grow the Swiss bank's wealth management business, it was reported on Sunday.
"We must make sure that we not only keep our competitors at a distance, but we also increase the distance to them," the executive wrote. The executive, wants to integrate more closely the activities of UBS's asset management business with its investment bank, the newspaper reported.Khan, along with Tom Naratil, the other co-head of UBS's wealth management business are due to report back to the bank's CEO Sergio Ermotti during December with their plans for the unit.
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