UBS boss dismisses Swiss exodus rumours as ‘absurd’

UBS CEO Sergio Ermotti dismisses speculation that the bank is looking to leave Switzerland, saying that management is seeking a compromise on the controversial new capital requirement rules. +Get the most important news from Switzerland in your inbox The fact that UBS is a Swiss bank "is the best possible solution and that's what the chairman of the board Colm Kelleher and I are working on: the rest is nonsense," the CEO said at JPMorgan Chase & Co's European finance conference, according to Bloomberg's report. "We have never, ever threatened to leave the country: this is absurd," he added. + UBS talked to US treasury secretary about American move According to a report in the Financial Times, Kelleher had discussed confidentially with United States Treasury Secretary Scott Bessent the possibility of moving the institution's headquarters to the US. In the background are the new capital requirements that the Swiss government would like to impose on UBS with the aim of strengthening ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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