Zurich Official Warns UBS Exit Would Devastate Swiss
Zurich cantonal government president Carmen Walker Spaeh warned that a potential relocation of UBS due to stricter regulations would be a catastrophe for the Swiss economy. The lender is currently assessing proposed capital rules following the collapse of Credit Suisse.
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UBS Group AG relocating from Switzerland would devastate national tax revenues and domestic corporations, cantonal government president Carmen Walker Spaeh said Thursday morning.
