Market Chatter: US Senator Warren Reportedly Asks UBS for Details of Any Relocation Talks With US Officials

06:14 AM EST, 12/10/2025 (MT Newswires) -- UBS Group (UBSG.SW) was asked by US Senator Elizabeth Warren to detail headquarters relocation-related talks, if any, with US officials, Bloomberg News reported Wednesday citing a letter it saw dated Tuesday. Warren reportedly asked the Swiss bank's chair, Colm Kelleher, if the company, US Treasury Secretary Scott Bessent or any other government official committed to a "favorable regulatory or supervisory treatment" if UBS moves to the US. Separately, the Democrat senator also asked Bessent to provide details about talks held earlier this year. The report said Warren cited regulatory safeguards that Switzerland created after UBS' emergency takeover of Credit Suisse in 2023 in her warning that the US should not actively enable a redomiciliation of the Swiss banking giant. In response to a request for comment from MT Newswires, UBS did not address the letter but affirmed the company's commitment to its home turf. "As we have said repeatedly, we want to continue to operate successfully as a global bank out of Switzerland," the spokesperson added. The office of the US senator did not immediately respond. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)