UBS urged by Artisan Partners to leave Switzerland over capital rules

UBS: UBS Group AG is a leading Swiss-based global financial services firm offering wealth management, investment banking, and asset management services. Following regulatory developments after the 2023 Credit Suisse acquisition, the bank faces proposals for stricter capital requirements on its foreign operations. A major shareholder has now publicly urged the firm to consider leaving Switzerland due to the regulatory outlook. Artisan Partners: Artisan Partners is a U.S.-based independent investment management firm specializing in active strategies across equities and other asset classes. Its Global Value Team and International Value Group manage positions in UBS and on September 30, 2026, sent a letter to the bank's board advocating for a change in corporate domicile. The firm highlighted Switzerland's regulatory environment as no longer competitive for the bank. Regulation: Switzerland's upper house of parliament recently backed a proposal requiring UBS to back its foreign subsidiaries with 90% common equity tier 1 capital, advancing stricter rules under consideration after the Credit Suisse collapse. Shareholder Engagement: Artisan Partners has actively engaged with UBS through a formal letter to the board, citing the regulatory environment as a reason for potential relocation.