UBS Group has plans to create a new unit for rich clients who require investment banking services, reported Bloomberg, which cited people with knowledge of the matter.
It will be led by Iqbal Khan and Tom Naratil, who plan to move clients from the ultra-high-net-worth unit into existing regional divisions if they don’t need investment banking services.
The remaining ultra-rich clients who need to work with the investment bank will be moved to a new business under Joseph Stadler’s leadership that will also incorporate the global family office, a joint venture with the securities unit, the people said. The move will double the number of clients who are served by the global family office, the people said.
A key objective of the new set up is to enable the bank to do more business with each client as the speed of wealth creation is exp
