UBS Prepares Cloud Move to Secret Microsoft Data Centers

UBS Group AG reached a deal worth hundreds of millions of Swiss francs to use Microsoft Corp. cloud services in a bid to reduce costs while complying with strict Swiss privacy laws, according to people familiar with the matter.

Switzerland’s largest bank may begin to store data at Microsoft’s purpose-built facilities near Zurich and Geneva as soon as next year, the people said, asking not to be identified because the matter is private. It would be a big win for Microsoft over rivals Google and Amazon.com Inc. after the company gambled on building facilities in Switzerland.