Categories: Market

Relocation of UBS is unrealistic – but possible!

class=”sc-3778e872-0 cKDKQr”>

1/6
SP co-chair Cédric Wermuth (37) wants to know if it is possible to move the mega-bank UBS abroad despite billions of dollars in federal aid.
Rolf Kromer And Martin Schmidt

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.

advert

Source :Blick

Share
Published by
Tim

Recent Posts

Terror suspect Chechen ‘hanged himself’ in Russian custody Egyptian President al-Sisi has been sworn in for a third term

On the same day of the terrorist attack on the Krokus City Hall in Moscow,…

1 year ago

Locals demand tourist tax for Tenerife: “Like a cancer consuming the island”

class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…

1 year ago

Agreement reached: this is how much Tuchel will receive for his departure from Bayern

class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…

1 year ago

Worst earthquake in 25 years in Taiwan +++ Number of deaths increased Is Russia running out of tanks? Now ‘Chinese coffins’ are used

At least seven people have been killed and 57 injured in severe earthquakes in the…

1 year ago

Now the moon should also have its own time (and its own clocks). These 11 photos and videos show just how intense the Taiwan earthquake was

The American space agency NASA would establish a uniform lunar time on behalf of the…

1 year ago

This is how the Swiss experienced the earthquake in Taiwan: “I saw a crack in the wall”

class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…

1 year ago