UBS CEO calls Switzerland's $26 billion demand 'excessive' - here's why he's eyeing America
Key Points
- UBS faces a $26 billion capital requirement from Switzerland...
Switzerland just handed UBS a $26 billion bill for extra capital requirements, and CEO Sergio Ermotti isn't exactly sending thank-you cards. He's calling it "punitive and excessive," which in corporate speak translates to "we're considering packing our bags."
The timing couldn't be more awkward for Switzerland. After Credit Suisse spectacularly imploded in 2023, Swiss regulators decided they needed to make their remaining global bank basically bulletproof. Think of it like your parents installing seventeen different locks on your door after your sibling got robbed - technically logical, but m...
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