LONDON - UBS Group is searching for a successor to chief executive officer Sergio Ermotti, the latest European bank to consider changes at the top in an industry beset by sluggish growth.
Mr Ermotti, who has made private banking the centrepiece of UBS' strategy, brought in Mr Khan to execute the biggest revamp of the key wealth management unit in almost a decade. The lender, like many of its European peers, has dialled back its ambitions amid negative interest rates and muted client activity. Last month, Mr Ermotti cut the bank's targets for a second time in as many years against the backdrop of this outlook.
The CEO, who is in his ninth year in the job, is part of a Europe-wide trend of bank executives getting ready to hand over the reins to the next generation. Lenders, including Societe Generale and HSBC Holdings, are among those also looking for replacements. Credit Suisse just replaced its CEO, though in the aftermath of a spying scandal.Mr Ermotti undertook a radical overhaul of the top ranks in August.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 19 companies with CEOs paid over 1,000x more than the median employeeA new report from Jefferies equity research shows exactly how big the growing divide between the rich and the poor has become. yahooFinance
Source: YahooSG - 🏆 3. / 71 Read more »
China stages clinical trial blitz in search of coronavirus cureBEIJING (BLOOMBERG) - China is rushing a flurry of patient studies to identify the most effective life-saving treatments for people sickened by the coronavirus.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Xiaomi CEO urges China's smartphone industry to return to work as soon as possibleXiaomi Corp CEO Lei Jun urged China's smartphone industry to return to work as soon as possible, as the coronavirus outbreak disrupts business ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Barclays CEO probed over Epstein ties, overshadowing profit gainsBritain's financial regulators are probing historical links between Barclays Chief Executive Jes Staley and the U.S. financier Jeffrey Epstein, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Barclays CEO faces UK probe into Jeffrey Epstein tiesLONDON (REUTERS) - Britain's financial regulators are probing links between Barclays chief executive Jes Staley and the US financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges, after the Financial Times reported on a trove of emails between the two.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Coronavirus outbreak 'just beginning' outside China, says expertThe coronavirus epidemic may be peaking in China where it was first detected in the central city of Wuhan but it is just beginning in the rest of ... Yes , already started in Singapore , and the beginning of defeating COVID-19 , people's power will defeat it thank god only 50 infected out of 5.08m populations so far , some had discharge , some in ICU , pray hard they got that lungs of steel to defeat the virus
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »