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Investing.com -- UBS stated Monday it intends to maintain its operations as a global bank based in Switzerland, responding to a Financial Times report about potential headquarters relocation discussions.
The statement follows claims that UBS Chair Colm Kelleher and U.S. Treasury Secretary Scott Bessent had private conversations about potentially moving the bank’s headquarters to the United States.
According to the Financial Times, these discussions occurred as the Zurich-based financial institution continued exploring contingency plans that might involve leaving Switzerland if Swiss authorities maintained their position on new capital regulations.
Sources within the bank have confirmed that UBS has examined relocation possibilities as part of its contingency planning. This follows a September report by the New York Post indicating the bank was considering relocating to the United States specifically in response to proposed Swiss capital requirements.
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