US Senator Demands Details Of Rumoured UBS Relocation Plan

2025-12-10 11:11:46

(MENAFN- Swissinfo) United States Senator Elizabeth Warren has written to UBS bank Chair Colm Kelleher asking for details of any discussions he may have had with Treasury Secretary Scott Bessent over a potential relocation of the bank to the US. This content was published on December 10, 2025 - 11:46 4 minutes Bloomberg

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In a letter dated December 9 and seen by Bloomberg News, Warren requested Kelleher provide a summary of interactions with Bessent and any other officials with whom he may have interacted in recent months on the topic - including if he'd been offered incentives to relocate the global wealth manager amid its standoff with the Swiss government on capital.

“Have you asked for, or has Secretary Bessent or any other senior Trump Administration official promised, favorable regulatory or supervisory treatment upon UBS's move to the United States?” Warren, who is the top Democrat on the Senate Banking Committee, wrote.“If so, please describe the nature of such commitments.”
More More UBS chair talked to Scott Bessent about moving bank to US
This content was published on Nov 17, 2025 Discussions came as Colm Kelleher tried to pressure the Swiss government to back down over proposed capital rules.
Read more: UBS chair talked to Scott Bessent about moving bank

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