Market Chatter: UK Government Reportedly Pitched London as Potential New HQ for UBS

10:07 AM EDT, 10/16/2026 (MT Newswires) -- Rachel Reeves is said to have presented London as a possible new headquarters for UBS Group (UBSG.SW) during her tenure as the UK's chancellor, the Financial Times reported Friday, citing people briefed on the talks. Reeves had met with UBS Chair Colm Kelleher to discuss the possibility of the bank transferring its listing and legal headquarters to the UK in case it decides to redomicile due to Switzerland's stricter capital rules, the report said. The two most recently met earlier in 2026. UBS, Reeves and the UK Treasury did not immediately respond to requests for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)