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UBS reaffirms Swiss base after report of talks on possible U.S. move
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UBS reaffirms Swiss base after report of talks on possible U.S. move
Nov 17, 2025 5:52 AM

ZURICH, Nov 17 (Reuters) - UBS said on Monday

it wants to continue operating from Switzerland in response to a

report that UBS chair Colm Kelleher and U.S. Treasury Secretary

Scott Bessent had privately discussed moving the bank's

headquarters to the U.S.

The Financial Times reported Kelleher and Bessent discussed

the matter as the Zurich-based lender continued to explore

contingency plans to leave Switzerland if the Swiss government

did not back down on incoming new capital rules.

"As we have said repeatedly, we want to continue to operate

successfully as a global bank out of Switzerland," UBS said in

an email to Reuters.

Bank insiders say UBS has examined the possibility of moving

as part of contingency plans. In September, the New York Post

said the bank was considering a move to the United States in

response to the proposed Swiss capital requirements.

U.S. Treasury Department did not immediately respond to

requests seeking comment.

(Reporting by Oliver Hirt; Editing by Emelia Sithole-Matarise)

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