UBS Group Evaluating Consequences, Future in Switzerland Amid Proposed Capital Reforms, CEO Says

12:58 PM EDT, 10/28/2026 (MT Newswires) -- UBS Group (UBSG.SW) is evaluating the long-term consequences for its ability to compete out of Switzerland as the bank considers its future in the country amid the government's proposed capital reforms. "We are once again in a critical juncture where the course for the coming decades will be set for the Swiss Financial Center. September's outcome in the upper house is very concerning," Chief Executive Officer Sergio Ermotti said in an earnings call on Wednesday when asked about the capital proposal being discussed by the Swiss parliament. The upper house recently voted in favor of the proposed new capital requirements for UBS, requiring the Swiss banking group to hold an additional amount of common equity Tier 1 capital. "Our goal has been and remains to reach a solution that balances financial stability, taxpayer protection and competitiveness. Unfortunately the latest proposal on the table also fails to achieve that balance, it continues to disregard the serious concerns raised by the overwhelming majority of respondents to the consultation and would excessively tighten capital requirements that are already among the most stringent globally," Ermotti added.