UBS weighs moving headquarters from Switzerland if capital rules tighten, WSJ reports
- UBS estimates the proposed requirements would require about $16 billion in additional capital, the report said
UBS is preparing contingency plans that could include moving its headquarters out of Switzerland if lawmakers tighten the bank’s capital requirements, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The options include acquiring a US financial institution and relocating there, merging with a European rival, or selling to a US bank, the report said.
UBS did not immediately respond to a Reuters request for comment outside of regular business hours.
The contingency planning comes as Switzerland considers tougher “too-big-to-fail” capital rules following UBS’s 2023 rescue of Credit Suisse, the WSJ report added.
UBS says second-quarter net profit up 17% to $2.8 billion
UBS estimates the proposed requirements would require about $16 billion in additional capital, the report said.