UBS Should Consider Relocating as ‘Plan B,’ Autonomous Says

UBS Group AG should see relocating its headquarters as a “plan B” in the Swiss capital debate rather than relegating it to an obscure corner of internal discussions, Autonomous Research said.

“What is at stake here for UBS is a potentially very detrimental turn of the regulatory landscape in Switzerland,” Autonomous’s Stefan Stalmann wrote in a note dated Thursday. “In our view, relocation is not plan A for the time being, but we believe it is clearly prudent for it to be promoted from plan D to plan B in the UBS strategy department.”