Business · Companies · 14 hrs ago
Professor says UBS is more likely to stay in Switzerland
UBS is signalling interest in moving its headquarters abroad, but Warwick professor John Thanassoulis thinks the bank is more likely to stay in Switzerland.
The debate comes as Swiss lawmakers consider stricter capital requirements for UBS, which the bank has strongly opposed.
In September, Switzerland’s Council of States backed 90% of the government’s proposal, and the National Council is due to consider it in December.
Thanassoulis says UBS has stronger political and business ties in Switzerland than it would have in places such as the United States.
He points to HSBC, which repeatedly raised the possibility of moving from London but ultimately stayed there.
A move has not been announced, and the next step in the Swiss debate is the National Council’s consideration of the capital rules.
Finance professor John Thanassoulis says UBS has more reasons to remain in Switzerland than to move abroad.
He points to the bank’s relationships, networks and shared values in Switzerland as important assets.
Thanassoulis compares UBS with HSBC, which discussed moving from London but stayed there.
The debate over stricter capital requirements for UBS is continuing in Switzerland.
The Swiss National Council is due to consider the proposal in December.
- Who
- UBS and finance professor John Thanassoulis.
- What
- Thanassoulis says UBS is more likely to stay in Switzerland than move abroad.
- When
- Watson published the article on 9 November 2026; the National Council is due to consider the proposal in December.
- Where
- Switzerland; the article also discusses London, the United States and Hong Kong.
- Why
- Thanassoulis says UBS has greater social, political and cultural capital in Switzerland, including relationships and networks.
UBS
John Thanassoulis
Relocation
UBS
UBS has openly considered foreign financial centres as it seeks room to negotiate over stricter capital rules.
John Thanassoulis
Thanassoulis believes UBS has more reasons to stay in Switzerland than to leave.
Location advantages
UBS
UBS chief executive Sergio Ermotti said Swiss identity is a major advantage but not why customers bank with UBS.
John Thanassoulis
Thanassoulis says the bank’s relationships, networks and shared values in Switzerland are important to its success.
UBS chief executive Sergio Ermotti discussed the bank’s location during a call with financial analysts.
The Council of States approved 90 percent of the government’s proposal on UBS capital requirements, which the bank strongly opposed.
The National Council is due to consider the proposal.
- Professor
- John Thanassoulis
- University
- Warwick
- Council of States approval
- 90 percent of the government’s proposal
- Next parliamentary step
- National Council in December
- Comparable bank
- HSBC remained in London despite discussing a possible move to Hong Kong
What people are saying
Of course not
A bank like UBS has social, political and cultural capital that I assume is much greater in Switzerland than, for example, in the United States.
UBS cannot be sure what will happen regulatorily in the United States. American politics is volatile.