UBS gets approval to shift 32 billion euros of assets from Britain [Reuters]
UBS Group AG Registered Ordinary Shares (UBS)
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Source: Reuters
UBS gets approval to shift 32 billion euros of assets from Britain | Reuters 2 Min Read ZURICH (Reuters) - UBS has received approval from a London court to move up to 32 billion euros ($36.44 billion) in assets from Britain to Germany as part of plans to keep business in the European Union after Brexit. UBS, Switzerland’s biggest bank, received approval from Judge Alastair Norris on Tuesday to transfer operations from UBS Limited, its London-based subsidiary primarily handling investment banking activities, to Frankfurt-domiciled UBS Europe SE on March 1. A UBS spokeswoman confirmed the court’s decision. The Swiss banking group is the latest financial institution to disclose a material transfer of its business away from London ahead of Britain’s departure from the EU on March 29. British bank Barclays was granted permission to transfer 190 billion euros in assets to its Dublin-based subsidiary so it could continue to serve its EU clients in the event of a no-deal Brexit. UBS’s plans c
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UBS
Sec Filings
- 3/28/24 - Form 6-K
- 3/28/24 - Form 6-K
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- UBS's page on the SEC website