UBS weighs moving headquarters from Switzerland if capital rules tighten, WSJ reports
UBS is preparing contingency plans that could include moving its headquarters out of Switzerland if lawmakers tighten the bank’s capital requirements, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The options include acquiring a US financial institution and relocating there, merging with a European rival, or selling to a US bank, the report said. UBS did…
UBS is exploring potential moves to relocate its headquarters outside of Switzerland if capital rules tighten, according to a report by the Wall Street Journal. The Swiss bank is considering options such as acquiring a US financial institution, merging with a European rival, or selling to a US bank. These contingency plans are being developed in response to Switzerland's consideration of stricter "too-big-to-fail" capital rules following UBS's 2023 rescue of Credit Suisse.
UBS reported a 17% increase in second-quarter net profit to $2.8 billion, but the proposed capital requirements could demand an additional $16 billion.
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