UBS Transfers Assets to Swiss Unit to Meet Regulatory Demands

UBS Group AG plans to transfer assets and operations into a new Swiss unit on June 14 to meet regulatory demands to make the company easier to break up in a crisis.

UBS Switzerland AG will house the bank’s retail, corporate and wealth management businesses booked in the country, Zurich-based UBS said in a statement Tuesday. The transfer date may be deferred, UBS said.