Can UBS really leave Switzerland?
UBS is considering moving away from Switzerland, where it is headquartered, to another European country or the United States - making such a move through an M&A with local banks. The information was reported by The Wall Street Journal, citing sources familiar with the matter. The bank has not yet confirmed the move.
The UBS is considering moving its headquarters from Switzerland to another European country or the United States due to potential regulatory changes in Switzerland. The changes, which are being debated in the Swiss parliament, would require banks deemed "too big to fail" to hold significantly more capital. UBS estimates the changes would cost it around $16 billion.
The bank, which has $1.7 trillion in assets, says Switzerland accounts for around a third of its revenue, and it lends around $420 billion to companies and families there.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
