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Swiss Bank UBS Weighs Leaving Switzerland for US Headquarters
18 Nov
Summary
- UBS chairman discussed moving headquarters to US with US Treasury Secretary
- Move would shake Swiss banking and country's financial reputation
- UBS exploring contingency plans after Swiss government imposed tough rules
As of November 18th, 2025, the Swiss banking giant UBS is reportedly considering a major shift in its operations, with the potential to move its headquarters from Zurich to the United States. According to the Financial Times, UBS chairman Colm Kelleher has discussed this possibility with US Treasury Secretary Scott Bessent.
Such a move would have significant implications for the Swiss banking industry and the country's reputation as a stable financial hub. The near-collapse of Credit Suisse in 2023 and its subsequent state-orchestrated rescue by UBS have already shaken the foundations of Swiss banking. Now, UBS's exploration of contingency plans, including a potential relocation, is seen as a further blow to Switzerland's financial standing.
The Swiss government's imposition of tough new rules on the banking sector appears to be a key factor behind UBS's considerations. The bank is now exploring alternatives, including the possibility of shifting its headquarters to the US, where it may find a more welcoming environment under the Trump administration. However, UBS has insisted that it remains committed to maintaining its presence in Switzerland.
