Latest news with #IqbalKhan
Yahoo
3 days ago
- Business
- Yahoo
UBS APAC President Khan on Strategy, Rates & Volatility
Wealthy clients of UBS are looking to buy more alternative assets as they seek to diversify investments during a volatile period. From the sidelines of the 28th 'Asian Investment Conference', UBS Asia Pacific President & Co-President Global Wealth Management Iqbal Khan also said that that he expects volatility to continue and rates to come down. Khan speaks exclusively to Bloomberg's David Ingles in Hong Kong.
Yahoo
4 days ago
- Business
- Yahoo
UBS's Wealthiest Clients Are Quietly Moving Billions -- Here's Where It's Going
UBS's (NYSE:UBS) wealthiest clients are quietly steering their portfolios toward alternative investments a move that could reshape how high-net-worth capital flows in a jittery macro environment. According to Iqbal Khan, co-president of global wealth management and head of UBS Asia Pacific, there's a growing tilt toward assets like private equity, hedge funds, and real estate. Speaking at the UBS Asian Investment Conference in Hong Kong, Khan said the shift is still in its early innings, but momentum is building. We've definitely seen significant growth, he said, noting that alternatives still make up a small slice of most client portfolios meaning there could be plenty of room to run. Warning! GuruFocus has detected 2 Warning Sign with UBS. The backdrop? Volatility, geopolitical friction, and rate-cut guessing games. UBS's markets unit just booked a record quarter off that volatility. Meanwhile, clients are bracing for a possible stagflation setup and looking for stability outside traditional equities and bonds. Khan, who moved to Hong Kong in 2024 to take on the top Asia role, added that rate cuts could be coming, but the timeline remains fluid. For UBS, this moment isn't just about investment advice it's about playing offense as rivals like HSBC and DBS step up in Asia. UBS remains the region's dominant wealth player, backed by over 900 advisers. Behind the scenes, the firm is still digesting its 2023 Credit Suisse takeover and slashing deep to make it work. UBS has already axed 10,000+ jobs and locked in $7.5 billion in cost savings on the way to its $13 billion goal. But it's also facing a tense debate with Swiss regulators over how much capital it should hold to brace for the next crisis. All of this could come to a head sooner than expected. CEO Sergio Ermotti is expected to step down by early 2027, and both Khan and U.S. private banking chief Rob Karofsky are seen as top contenders to take the reins. This article first appeared on GuruFocus.
Bloomberg
4 days ago
- Business
- Bloomberg
UBS APAC President Khan on Strategy, Rates & Volatility
Wealthy clients of UBS are looking to buy more alternative assets as they seek to diversify investments during a volatile period. From the sidelines of the 28th 'Asian Investment Conference', UBS Asia Pacific President & Co-President Global Wealth Management Iqbal Khan also said that that he expects volatility to continue and rates to come down. Khan speaks exclusively to Bloomberg's David Ingles in Hong Kong. (Source: Bloomberg)
Business Times
4 days ago
- Business
- Business Times
UBS's Iqbal Khan sees rich customer demand for alternative assets
[HONG KONG] Wealthy customers of UBS Group are looking to buy more alternative assets as they seek to diversify investments during a volatile period for markets and global trade, according to the firm's Asia-Pacific chief. 'We see continued demand' for alternatives, Iqbal Khan, the bank's regional president, said in an interview with Bloomberg TV in Hong Kong at the UBS Asian Investment Conference on Wednesday (May 28). In the Asia Pacific, UBS is the biggest wealth manager with more than 900 client advisers. It faces rising competition from the likes of HSBC Holdings and regional lenders such as DBS Group Holdings. 'We have definitely seen a significant growth of alternatives and alternatives investments in client portfolios,' he said. 'It is still at a lower percentage when you think about an aggregated perspective of wealth portfolios. So there is probably some ways to go in terms of diversification into alts.' Khan, who relocated to Hong Kong last year and is also co-president for global wealth management, said he expects lower interest rates and continues to see the potential for a stagflation environment. The bank's markets unit posted a record performance during the first quarter, as geopolitical turmoil spurred volatility and a surge in trading. 'While we will see rates coming down, it is question of timing,' he said. Khan was tapped for the Asia-Pacific role in 2024 as part of a shakeup that saw investment banking chief Rob Karofsky appointed to run the US business and jointly oversee private banking. The two are key contenders to succeed chief executive officer Sergio Ermotti, who is likely to step down by early 2027. UBS, which took over embattled rival Credit Suisse in 2023 as part of a rescue, is in a standoff with the Swiss government over how much capital it should hold to deal with future crises. UBS has cut more than 10,000 jobs and reduced costs since it bought Credit Suisse. The lender said in February it has achieved US$7.5 billion of the US$13 billion in total savings it's seeking to extract from the acquisition. BLOOMBERG
Bloomberg
5 days ago
- Business
- Bloomberg
UBS's Khan Sees Rich Customer Demand for Alternative Assets
Wealthy customers of UBS Group AG are looking to buy more alternative assets as they seek to diversify investments during a volatile period for markets and global trade, according to the firm's Asia Pacific chief. 'We see continued demand' for alternatives, Iqbal Khan, the bank's regional president, said in an interview with Bloomberg TV in Hong Kong at the UBS Asian Investment Conference on Wednesday.
