UBS Told To Tone Down Lobbying In Row With Swiss Government

(MENAFN- Swissinfo) UBS has been told to tone down its lobbying campaign in the row with the Swiss government over capital reforms, even as the lender explores plans to extend its chief executive's tenure beyond next year. Select your language

Generated with artificial intelligence. Listening: UBS told to tone down lobbying in row with Swiss government This content was published on March 3, 2026 - 08:38 3 minutes Mercedes Ruehl in Zurich and Simon Foy in London, Financial Times

Switzerland's largest bank has been at odds with the government for nearly two years over plans to force it to increase its capital requirements by up to $26 billion (CHF20 billion). But the government's stance has hardened in recent weeks, with the finance minister rejecting a key compromise proposal.

Lawmakers have warned UBS to reduce the public profile of chief executive Sergio Ermotti in opposing the changes, two people familiar with the matter said.“A large part of parliament actually agrees with the bank [on a key point of contention] but we have told them that their lobbying and particularly statements by Ermotti are not helpful right now,” said one of the lawmakers.

External Content

Another parliamentarian in Switzerland's upper house said they had privately advised the bank to“reconsider its lobbying campaign”, particularly as the relationship between the bank's management and Switzerland's finance minister Karin Keller-Sutter has deteriorated.

A set of compromise proposals for capital reform presented by a cross-party group of Swiss politicians in December had been seen as a potential breakthrough for the bank.

More More Workplace How a Swiss compromise could save UBS billions

This content was published on Dec 18, 2025 A proposal from a cross-party group of politicians could break the deadlock with Switzerland's biggest bank.

Read more: How a Swiss compromise could save UBS bil

MENAFN03032026000210011054ID1110809805