Swiss Bank UBS Considering U.S. Move to Avoid New Regulations: New York Post

According to a report by the New York Post, Swiss bank UBS (UBSG.S) is considering relocating to the United States in response to proposed new capital requirements by the Swiss government.

The newspaper, citing sources familiar with the matter, reported that senior UBS executives have held meetings with officials from U.S. President Donald Trump’s administration to explore strategic options, which may include acquiring or merging with an American bank.

When asked to comment on the report, UBS referred Reuters to remarks made last week by CEO Sergio Ermotti.

Speaking to Bloomberg TV on Thursday, Ermotti stated, “We want to continue operating as a successful global bank based in Switzerland.” He added that the bank can continue to offer significant value to both Swiss and international clients.

However, he described the proposed capital requirements as punitive and excessive, emphasizing that the bank must safeguard the interests of its shareholders and stakeholders.

“It would be premature to comment on any possible scenarios or our responses at this stage,” he said in the interview.

In June, the Swiss government proposed stricter regulations for UBS following its acquisition of Credit Suisse, which could require UBS to hold an additional $26 billion in core capital.

Reuters had earlier reported in July that UBS was informing senior staff that these proposals had increased the need to consider moving its headquarters out of Switzerland. One source familiar with the matter provided this insight, while another cited London as a preferred alternative location.