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Iqbal Khan Emerges as Top Contender for UBS CEO Position
Iqbal Khan is emerging as a leading candidate to succeed Sergio Ermotti as CEO of UBS, following a dynamic five-month tenure as head of Asia, where he engaged extensively with clients and secured key mandates from major Chinese firms. Despite his achievements, Khan's past at Credit Suisse raises concerns, particularly regarding high-risk investment strategies that contributed to the bank's downfall. Critics suggest he must adopt a more cautious approach to align with Swiss banking traditions.
hsbc shifts focus to asia pacific and mena by exiting us and european markets
HSBC is shutting down its ECM and M&A businesses in Europe and the US to concentrate on Asia-Pacific and MENA, following a strategy revamp aimed at simplification. Despite strong profits in these regions, the bank's global banking and markets unit has underperformed compared to its consumer and commercial banking sectors. The move raises questions about potential synergies lost and the bank's ability to compete locally against established players in Asia.
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