March 17 (Reuters) – Swiss financial giant UBS plans to explore mergers and acquisitions (M&A) opportunities in the United States over the next few years. Pictured is Chairman Colm Kelleher. Photographed in Hong Kong in November 2023 (2024 Reuters/Tyrone Siu)
[チューリヒ １７日 ロイター] – Swiss financial giant UBS (UBSG.S), opens new tab, plans to explore mergers and acquisitions (M&A) opportunities in the United States in the coming years. Chairman Colm Kelleher made the announcement in an interview published in the Swiss newspaper Neue Zürcher Zeitung (NZZ) on the 17th.
The company plans to expand its wealth management business for high-net-worth individuals in the U.S. over the next three to four years through M&A, but says it is “only targeting this sector and has not yet begun.”
Since its rescue merger with Credit Suisse in June last year, UBS has been criticized for its balance sheet, which has ballooned to more than $1.6 trillion, nearly twice the size of the Swiss economy, and has been labeled a “systemically important bank” in Japan. There is also a movement to review regulations.
But Kelleher dismissed arguments that UBS should be required to raise capital. He said: “If the capital becomes too large, it is not only disadvantageous for shareholders, but also for customers, because it makes banking services more expensive.”
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