Stricter regulations push global bank to rethink its base
Swiss banking giant UBS is reportedly exploring a potential relocation to the United States in response to proposed regulatory changes from the Swiss government. According to the New York Post, senior UBS executives have already held meetings with officials in President Donald Trump’s administration to discuss strategic options, including acquiring or merging with a U.S. bank.
The move follows the Swiss government’s June proposal to tighten capital requirements for UBS after its high-profile takeover of Credit Suisse. The revised rules could force the bank to hold an additional $26 billion in core capital, a measure that CEO Sergio Ermotti has publicly described as “punitive and excessive.”
CEO reaffirms Swiss commitment but flags shareholder concerns
When asked to comment on the report, UBS pointed to Ermotti’s recent interview with Bloomberg TV. “We want to continue to operate as a successful global bank based out of Switzerland,” Ermotti said, highlighting the bank’s value proposition for both Swiss and international clients.
Still, the CEO acknowledged growing concerns. “We need to think about how to protect shareholders’ and stakeholders’ interests,” he said, without confirming any concrete steps. Ermotti also stressed that it was premature to speculate on any specific course of action.
Relocation talks include U.S. and London options
In July, Reuters reported that UBS had begun briefing senior staff about the increasing viability of relocating its headquarters. While the U.S. is now under active consideration, insiders have also cited London as a potential alternative, given its financial infrastructure and global reach.
The possibility of a major bank like UBS shifting its base reflects wider tensions between regulators aiming to strengthen financial stability and multinational institutions seeking operational flexibility. Any decision to relocate would carry significant implications for Switzerland’s reputation as a global banking hub.
