UBS Faces ‘Extreme’ 50% Rise in Capital, Kelleher Warns

UBS Group AG Chairman Colm Kelleher said current reform plans by Switzerland would dramatically push up the bank’s capital requirements, as he seeks to show that the move would effectively render the global firm uncompetitive.

“Finma and the Swiss National Bank stipulate additional capital requirements, which would also lead to a 50% increase in capital requirements as compared to today,” Kelleher said at UBS’s annual general meeting in Lucerne, Switzerland, on Thursday. He labeled the potential measures as “extreme.”