UBS Chair Spoke to Bessent Over Possible US Move, FT Reports

UBS Group AG Chairman Colm Kelleher held talks with US Treasury Secretary Scott Bessent about potentially moving the bank’s headquarters to the US amid the ongoing uncertainty over Switzerland’s upcoming capital reforms, the Financial Times reported.

The two privately discussed what a move could look like, with the Trump administration “receptive” to welcoming Switzerland’s largest bank, the newspaper said, citing three people familiar with the conversations that it didn’t identify.