Oswald Grübel, ceo of UBS, says the U.K.-based bank may move its risky investment-banking operations out of Switzerland to a more relaxed regulatory location if the country imposes more stringent regulations on it. The Swiss government has proposed that UBS and Credit Suisse boost their capital reserves to three times that of other banks to protect against risk. Grübel mentioned the U.K. or U.S. as possible destinations, but said it would be several months before the bank could assess the impact of the tougher requirements and decide whether to move.
