July 29, 2014

UBS may move investment bank HQ to London

UBS

The WSJ reports London as well as New York and Singapore are being considered.

Reports have surfaced which indicate that UBS AG is planning to detach its investment bank arm and incorporate it outside of Switzerland. London as well as New York and Singapore are amongst the cities that are being rumoured for the relocation.

The speculated move comes (WSJ) as a result of Swiss regulators urging UBS to either hold far more capital or move part of its business to other locations in order to reduce the risk that Swiss taxpayers face.

Previously the Swiss central bank bailed out UBS following the loss of billions of dollars during the financial crisis.

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