UBS Awaits Formal Brexit Notice to Decide on U.K. Job Moves
- Article 50 will kick off decision-making at banks, Weber says
- Chairman doesn’t see more countries leaving European Union
U.K.'s May Says Brexit Bill Becomes Law in 'Coming Days'
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UBS Group AG will probably make a final decision on whether to move as many as 1,500 jobs from London soon after the U.K. gives formal notice of its plan to quit the European Union, Chairman Axel Weber said.
“We cannot postpone decisions on how we run our European operations,” Weber said at a conference in Frankfurt on Wednesday. “As soon as we know definitely that Brexit will happen, you will see decision-making processes kick off in all financial institutions.”