UBS Group AG is creating contingency plans that could include moving its headquarters out of Switzerland. The plans come as Swiss regulators and politicians debate tougher too-big-to-fail rules after UBS’s emergency acquisition of Credit Suisse in 2023.
The proposed rules could require UBS to hold an additional $16 billion to $20 billion in capital. UBS argues that this would hinder its competitiveness against global rivals.
Chairman Colm Kelleher and CEO Sergio Ermotti have said they prefer to keep the bank in Switzerland, but warn that UBS must consider its future if the requirements become too stringent. Reported options include acquiring a U.S. institution and relocating, or merging with a European competitor.