The New York Post (NYP) reported, citing well-informed sources, that Switzerland’s largest bank, UBS, is planning a move to the United States.
UBS is considering the option of relocating to the United States. The reason is weighty — growing dissatisfaction among top management with increasingly strict financial regulations imposed by the Swiss government. Analysts say that such requirements are getting more severe.
According to NYP, the bank is serious about leaving Switzerland. Interestingly, the financial behemoth is ready to set up operations in the US. Experts view this as a radical response to Swiss regulators, who have set out new capital requirements for UBS.
Among the proposed measures is a substantial increase in the bank’s capital buffer — reportedly by $26 billion. The UBS board believes this would undermine the bank’s competitiveness on the global stage.
Given the current situation, the financial institution is actively looking for ways to avoid this scenario.
