Swiss bank UBS mulls move to US to avoid new rules, reports New York Post

Berlin, September 14 – Swiss Bank UBS is planning to move to the United States in response to the Swiss Government’s suggestions on new capital needs on the weekend.

Senior UBS executives met with the authorities under the direction of US President Donald Trump to prepare a strategy change that could include the purchase of a US bank or merger, and the newspaper said people close to the issue.

When he was asked to comment on the report, UBS directed Reuters to the comments made by CEO Sergio Ermotti last week.

“We want to continue to operate as a Swiss -based global bank in Swiss -based,” he told Bloomberg TV on Thursday. He said.

However, he described Switzerland’s suggestions about capital requirements as punishing and excessive, and said that the bank should consider how the shareholders and stakeholders would protect their interests.

“But it is absolutely too early to interpret any possible scenario and what our answers will be,” he said in the interview.

In June, the Swiss government proposed more strict rules for UBS, following Credit Suisse, which kept 26 billion dollars more in fundamental capital.

In July, Reuters reported that UBS’s senior personnel, the need to think of carrying the headquarters from Switzerland has grown since the proposals were made and referred to the information of the issue. Another source pointed to London as a preferred alternative.

This article was created from an automatic news agency feeding without changing the text.