A U.S. investment firm wants UBS to leave Switzerland. Artisan Partners, a major shareholder, has pushed the bank to abandon its home country.
The request follows new capital rules proposed by Swiss regulators. Those rules would force UBS to hold more capital against its foreign units.
Artisan Partners argues the measures unfairly single out UBS. The firm says the bank could better serve shareholders outside Switzerland.
UBS has not publicly responded to the shareholder’s demand. The bank has deep roots in Switzerland, dating back over 150 years.
Swiss officials designed the rules to prevent another banking crisis. UBS acquired Credit Suisse in 2023 after a state-backed rescue.
The proposal would require UBS to hold billions more in capital. Shareholders worry this could reduce dividends and buybacks.
Artisan Partners holds a significant stake in UBS and has criticized Swiss policy before. The firm wants UBS to re-domicile to a more business-friendly country.
UBS has said it is reviewing the new rules. The bank has not indicated any plans to move its headquarters.
Switzerland’s government has defended the capital requirements. Officials say they protect taxpayers from future bailouts.
The dispute highlights growing tension between global banks and national regulators. UBS remains one of Europe’s largest and most systemically important banks.
