(Reuters) -UBS Group AG is exploring options to relocate its headquarters if Switzerland enforces a requirement for the bank to hold an extra $25 billion in capital, Bloomberg News reported on
UBS Considers HQ Move Amid Swiss Capital Demands
(Reuters) -UBS Group AG is exploring options to relocate its headquarters if Switzerland enforces a requirement for the bank to hold an extra $25 billion in capital, Bloomberg News reported on Thursday, citing people familiar with the matter.
Internal estimates suggest the extra buffer could push UBS's key capital ratio to roughly 20% under the toughest conditions, up from its current 14%, the report said.
When asked about the report, UBS pointed to a January interview of CEO Sergio Ermotti to Bloomberg TV in which he said, "I don't think for me, it's a topic to even consider at this stage to move away from Switzerland."
The Swiss government is trying to tighten banking regulations in the wake of the 2023 collapse of Credit Suisse.
UBS, which subsequently acquired Credit Suisse, has resisted higher capital requirements, saying such a move would increase costs for companies and households. The bank was founded in 1862 in Switzerland.
(Reporting by Bipasha Dey in Bengaluru and Oliver Hirt; Editing by Sahal Muhammed)
