UBS is considering promoting Iqbal Khan – current co-head of global wealth management (GWM) – to the sole head, potentially positioning him as a successor to chief executive Ralph Harris, media reports have claimed.

Tom Naratil – Mr Khan’s co-head – may retain his role as a regional head for the Americas, the reports suggest.

However, the media reports said no final decision has been made and the plans could still change.

UBS did not respond to thewealt...