UBS (UBS.US) will relocate due to new Swiss capital regulations? CEO rebuts: baseless rumors!

Wisdom Financial App has learned that UBS Chief Executive Officer Sergio Ermotti strongly refuted speculation that the bank intends to leave Switzerland. He stated that the management is trying to reach a compromise on controversial capital regulations. Ermotti said at J.P. Morgan's European Financial Conference on Thursday, "UBS, as a Swiss bank, this is the most ideal outcome, and this is what my Chairman Colm Kelleher and I are working towards - everything else is nonsense. We have never had any threats to leave Switzerland. This is simply ridiculous."