Skip to content
Subscriber Only

UBS Chairman Weber Says Bank Running Khan Due Diligence Checks

  • Swiss bank said it’s conducted checks on move up to Wednesday
  • Iqbal Khan is set to join UBS from Credit Suisse next week
Bloomberg business news
UBS's Weber on Economic Risks, Negative Rates, Central Bank Policy

UBS Group AG made its public first comments about a spying scandal involving rival Credit Suisse Group AG and top banker Iqbal Khan, with chairman Axel Weber saying the bank had run due diligence checks on him as recently as today.

“We have made our due diligence, believe me, as a bank in making close contact and making sure that there will be no regret moves,” UBS Chairman Axel Weber told Bloomberg TV in an interview with Matthew Miller in Zurich on Wednesday. He added that Khan hadn’t started his new job at UBS and the matter was between him and Credit Suisse.