UBS top manager Iqbal Khan has denied any responsibility for the Greensill scandal that rocked Credit Suisse. In an interview with NZZ am Sonntag, Khan stated that he had never met or spoken with Alexander “Lex” Greensill, the founder of Greensill Capital. He also emphasized that both internal and external investigations by the Swiss Financial Market Supervisory Authority (FINMA) had not found any wrongdoing on his part. Khan further asserted that he enjoys the trust of UBS CEO Sergio Ermotti and the board of directors. The Greensill-related losses had caused significant financial difficulties for Credit Suisse, leading to its downfall. Despite the ongoing legal challenges, Khan announced ambitious growth plans for UBS, particularly in the United States. He highlighted the opportunity for UBS to become a truly global bank based in Switzerland, aiming to acquire $150 billion in new client assets annually. Khan is also considered a potential successor to CEO Ermotti, although he downplayed the discussion, acknowledging the immense challenge of filling Ermotti’s shoes. Khan addressed concerns about UBS’s size, stating that its global presence provides stability and predictability in its operations.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇭 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Sergio Ermotti, Colm Kelleher, Alexander Greensill, Iqbal Khan |
| Companies | UBS-Präsident, Greensill, UBS-Konzernchef, UBS, Credit Suisse, CS, Eidgenössische Finanzmarktaufsicht (Finma) |
| Currencies | None |
| Securities | None |
