Swiss lawmakers are struggling to design new capital rules following the 2023 Credit Suisse failure, fearing a move abroad if requirements are too harsh or a public referendum if they are too lenient. This unrest follows an Oct 13 parliamentary committee vote for a special tax on systemically important banks to fund a public liquidity backstop. In tandem, the UK government has sought to attract the bank's headquarters to London, with Chancellor Rachel Reeves previously pitching the City to UBS chair Colm Kelleher.
Tuesday, October 20, 2026
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UBS Maps Merger or HQ Exit to Avoid Strict Swiss Rules
Business1 day ago
A group of people familiar with the matter say the largest lender in Switzerland is plotting an exit from the country or a corporate tie-up if regulatory changes become too burdensome. UBS is modeling these specific scenarios—which include a merger with another bank—to avoid operational risks that would arise from rules it deems excessively strict, according to three people with knowledge of the discussions.
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