At least eight foreign banks signal interest in possible UBS merger

  • At least eight foreign banks signaled interest in a possible merger or combination with UBS.
  • UBS estimates tougher capital rules could require about $18 billion in additional capital.
  • Colm Kelleher warned UBS could reconsider its Swiss base if capital rules became too harsh.

At least eight major foreign banks have signaled interest in a possible merger or combination with UBS, Swiss newspaper Blick reported, citing an insider familiar with the matter. The approaches come after Switzerland’s upper house voted on Wednesday for tougher capital rules, which UBS estimates could require it to hold about $18 billion in additional capital. UBS Chairman Colm Kelleher had warned before the vote that the bank could reconsider its Swiss base if the rules were too stringent. Semafor reported on Friday that UBS management had revived discussions on reducing its exposure to Swiss regulation, including through a possible combination with a foreign bank. Switzerland’s finance minister, Karin Keller-Sutter, said over the weekend that UBS was unlikely to leave because relocation would be more expensive than complying with the new rules and legally complicated.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.