UBS Chairman Says Swiss Capital Rules Risk Business Model
Chairman Colm Kelleher says proposed Swiss capital rules pose a risk to the bank. He ruled out shrinking the firm while targeting growth in Asia and the US.
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UBS GROUP AG-REG Chairman Colm Kelleher warned on Wednesday that the bank may soon face unavoidable business decisions as a result of proposed capital requirements in Switzerland. Speaking at the annual general meeting in Basel, Kelleher expressed significant concern over the government's regulatory direction following the state-engineered takeover of Credit Suisse in 2023.
New banking rules proposed by the government are a serious risk to UBSs business model while offering little meaningful improvement to financial stability.
