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UBS has no intention of leaving Switzerland, compliance chief says

UBS has no plans to leave Switzerland, the bank's compliance and governance chief Markus Ronner said on Friday amid a debate on how to regulate the country's biggest lender.
UBS Group AG, Switzerland's largest bank, has firmly stated its commitment to maintaining its headquarters in Switzerland, despite the complexities involved in merging with Credit Suisse. This assurance comes from UBS's compliance chief, who emphasized that the bank has "no intention" of relocating from Switzerland. This statement addresses concerns about the bank's future in the country following its acquisition of Credit Suisse, which was orchestrated by the Swiss government to prevent a financial crisis. The merger, which has been described as a "deal of the century," involves significant regulatory and operational challenges, including the integration of two major financial institutions while adhering to Swiss and international banking regulations. The compliance chief's comments aim to reassure stakeholders of UBS's dedication to its Swiss roots amidst these transformative changes.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/ubs-has-no-intention-of-leaving-switzerland-compliance-chief-says/ar-AA1BSjC9 ]