Economics

UBS Misses Key Targets in Challenge to Iqbal Khan Overhaul

Swiss bank cuts financial goals, sees outflow of wealth assets
UBS joins Credit Suisse, Deutsche Bank in paring expectations

WATCH: Ermotti discusses wealth management outflows and the challenge of operating in a negative rates environment.Source: Bloomberg

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By Marion Halftermeyer and Patrick Winters

January 21, 2020 at 5:52 AM UTC

Updated on

January 21, 2020 at 8:08 AM UTC

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UBS Group AG missed key targets for 2019 as investors pulled money late in the year, underscoring the challenge for new wealth management co-head Iqbal Khan as he seeks to turn around its most important business.