class=”sc-3778e872-0 cKDKQr”>
Pay yes, say no: late Tuesday night, SP co-chairman and national councilor Cédric Wermuth (37) is maxing out. He wants to know from Finance Minister Karin Keller-Sutter (59) whether Switzerland has a guarantee as a place in the contract with UBS: “If I understood correctly, then UBS will sign this contract in 2019.” morning and afternoon departure to Singapore.” And the public sector will then remain responsible for loans of up to CHF 109 billion – but this is new for a foreign bank.
no concrete answer
Keller-Sutter glosses over the question. On the one hand, he suspects the big bank must have more pressing concerns right now. “All the teams are now leaving and taking customers with them,” he replies. The Finance Minister can’t seem to imagine that UBS will flee Switzerland – and he doesn’t want to deal with it this late in the evening. When SP National Councilor Roger Nordmann (50) doubled down on the Singapore question, he still couldn’t answer.
That’s what the experts say
Like Switzerland, the island state of Singapore is a global financial centre. But is it realistic to move megabank UBS abroad? Reputation expert Bernhard Bauhofer (60) can’t even imagine that. According to Bauhofer, the identity of the bank is inextricably linked with Switzerland. The name UBS used to mean “Union Bank of Switzerland”. A fitting name today. “From a brand point of view, a move wouldn’t be intelligible,” Bauhofer says. For the expert, a move would also be “the kiss of death for the international importance of the Swiss financial and banking centre”.
Communications expert and former CVP National Assembly Member Kathrin Amacker (61) reassures: “In terms of reputation, there is no reason to leave Switzerland. Studies prove it: Swiss banks are highly respected around the world. You can trust Switzerland.”
Nothing is 100 percent safe
Large international companies like UBS choose their headquarters based on challenging factors: tax benefits, legal certainty and regulation are key. Sergio Ermotti (62), the new and former CEO of UBS, summed it up in the French-speaking Sunday newspaper “Matin Dimanche” in 2017: He was Swiss and wanted UBS to stay in Switzerland. “But nothing is 100 percent certain,” he said at the time.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
