UBS told to tone down lobbying in row with Swiss government

Published on March 3, 2026

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UBS has been told to tone down its lobbying campaign in the row with the Swiss government over capital reforms, even as the lender explores plans to extend its chief executive’s tenure beyond next year. Switzerland’s largest bank has been at odds with the government for nearly two years over plans to force it to increase its capital requirements by up to $26 billion (CHF20 billion). But the government’s stance has hardened in recent weeks, with the finance minister rejecting a key compromise proposal. Lawmakers have warned UBS to reduce the public profile of chief executive Sergio Ermotti in opposing the changes, two people familiar with the matter said. “A large part of parliament actually agrees with the bank [on a key point of contention] but we have told them that their lobbying and particularly statements by Ermotti are not helpful right now,” said one of the lawmakers. Another parliamentarian in Switzerland’s upper house said they had privately advised the bank to “reconsider ... Full story here Are you the author?

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