# Kelleher: New banking rules proposed by the government are a serious risk to UBS's business model.

*business · news · 2026-04-15 · Reuters*

## Key points

- UBS considers new Swiss capital rules a significant threat to its current business model.
- UBS will not shrink in size and plans further growth in Asia and the United States.
- The extent of UBS's share buybacks depends on Switzerland's upcoming regulatory decisions.
- CEO Sergio Ermotti may lead UBS until late 2027 due to succession uncertainties.

**Companies:** UBS
**Countries:** Switzerland, United States

[Read the full story on Reuters](https://www.reuters.com/legal/legalindustry/ubs-chairman-says-key-business-decisions-may-soon-become-unavoidable-2026-04-15/)

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