The chief operating officer at UBS has been tasked with encouraging the bank’s employees to refer clients to different parts of the business, at a time when many of its rivals are also trying to encourage cross referrals to boost revenues.

Ulrich Koerner will lead a steering committee for the bank's new Group-wide Referral Incentive Program, or Grip, according to an internal memo seen by Financial News. The committee will comprise UBS's regional and divisional heads.