Koerner, 51, who took over the asset management division this year, is seeking to boost annual pretax profit to $1.1bn in the medium term from 576 million francs last year. He aims to strengthen investment performance, expanding UBS’s exchange-traded funds offering and creating a dedicated sales team for wealth management clients, who have invested assets of $1.92 trillion with UBS.
'To provide superior products for our clients, we must have best in class product development and management capabilities,' Koerner said in the memo. 'Efficiency and speed to market, with the right products in the right wrappers, will be vital.'
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