UBS Considers US Relocation Amid Swiss Capital Rule Dispute

UBS is exploring a potential headquarters move from Switzerland to the United States following clashes with Swiss regulators over proposed capital requirements. The bank faces $26 billion in additional capital demands—a move it claims would cripple competitiveness. Chairman Colm Kelleher and CEO Sergio Ermotti have already engaged TRUMP administration officials to discuss deregulation benefits and acquisition targets.

The dispute stems from Switzerland's post-Credit Suisse bailout reforms, which UBS calls "neither proportionate nor internationally aligned." While negotiations continue, the threat of relocation underscores growing tensions between global banks and regional regulators. A US pivot could reshape the bank's operational framework and strategic priorities.