UBS Chairman Warns Bank May Leave Switzerland
UBS chairman Colm Kelleher stated the bank may need to reconsider its Swiss headquarters if new banking regulations become overly restrictive. Parliament postponed its vote on the capital requirements until next week.
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UBS GROUP AG-REG chairman Colm Kelleher warned Thursday that the lender could reconsider its domicile in Switzerland if new capital rules impair its global competitiveness. The warning follows a parliamentary debate over tighter regulations stemming from the 2023 collapse of Credit Suisse. The stricter framework could force UBS to hold billions in additional reserves.
