UBS Fund Management (Switzerland) AG now holds a 3% stake in Swiss National Bank, according to an October filing with the country’s SIX stock exchange.
According to LSEG data, UBS Asset Management (Switzerland), another subsidiary of the UBS group, also has a stake in the Swiss central bank.
UBS and the SNB declined to comment.
Switzerland’s cantons hold nearly 59% of SNB shares, with the biggest stakes held by the cantons of Bern, Zurich and Vaud, the central bank’s latest annual report shows.
Swiss National Bank loses $3.6 billion in 2023
Cantonal banks and private sector shareholders hold the rest, it said.
UBS last year acquired rival Credit Suisse, which collapsed after a string of financial setbacks.
UBS is in the process of integrating Credit Suisse, which LSEG data shows had at least one unit that held SNB shares.
Comments
Comments are closed for this article.