UBS eyes share of wallet, productivity for wealth management growth

ZURICH (Reuters) - UBS <UBSG.S> will look to increase productivity and gain a larger share of clients' business to grow its wealth management business in a low-yield environment of economic contraction, divisional co-head Iqbal Khan said on Thursday.

"There's GDP contraction and a low-yield environment. Are those challenges for a wealth manager? Absolutely," Khan said during a presentation at the virtual Goldman Sachs European Financials Conference. "It's more about growing share of wallet with our clients and productivity. So there's clearly opportunity to mitigate headwinds and to grow," he said.

(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)