«The next career step [for Khan] wasn’t possible, and Tidjane Thiam had to draw the consequences,» one of the people said. In other words, Khan’s desire to move up (or on) was disruptive to the bank, and Thiam elected to put an end to it.
In recent months, Khan had all but dropped out of view: he was kept from taking an all-too public part of Thiam’s victory lap last year after the 2015 restructuring ended and he was named «Banker of the Year» by banker bible «Euromoney».
Free Agent Status
Khan’s free agent status gave rise to speculation that he will pop up at Julius Baer, where new Chairman Romeo Lacher is reportedly compiling a shortlist to CEO Bernhard Hodler, who is 59. In fact, Khan is unlikely to take a job which so closely resembles his previous one.
Meanwhile, UBS is on the lookout for candidates to eventually replace Sergio Ermotti, the bank's long-standing CEO, who is 59. At Switzerland's largest bank, Khan is viable as a top executive, if not yet CEO (meaning, someone would have to make room for him).
Mulling Options
Khan is parsing several options, including from international banks, one person familiar with his plans said. Khan, who is a similar age to Pictet partner Boris Collardi and Julius Baer’s Europe head Yves Robert-Charrue, has at least another 15 years of management career ahead of him.
He is keen to gain more experience, also outside of wealth management. He also carefully planning to ensure that he isn’t at the same point in his career in five or six years, this person said. «He’s going to be talking to a lot of people.»
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