UK chancellor Rachel Reeves has been actively pitching London as a potential new home for UBS, as the Swiss bank weighs its options amid new capital proposals. The outreach reflects broader efforts by the government to attract major financial institutions to the City of London following Brexit. Reeves positioned the UK as a stable and attractive base for global banking operations, highlighting the benefits of operating within a well-established financial hub. The pitch comes as UBS considers strategic moves in response to evolving regulatory requirements and capital rules that could impact its European footprint.
The Financial Times reported that Reeves met with senior UBS executives in recent weeks, discussing the possibility of relocating or expanding the bank's headquarters functions to London. While no official decision has been made, the discussions underscore the UK's ongoing push to strengthen its appeal to international banks seeking clarity and competitive advantages post-Brexit.
UBS has not commented publicly on the specifics of the talks. A spokesperson said the bank regularly evaluates its operational structure but noted that any significant changes would depend on a range of financial, regulatory, and strategic factors. The capital proposals under review are part of wider reforms being considered by Swiss and European regulators.
Source: Financial Times Companies · Summarized by HeadlinesBriefing