UBS Should Split Into Two Units, Populist Leader Blocher Says

UBS Group AG is too big a risk for Switzerland to bear alone and the bank should be divided into a domestically-focused unit and one centered on the US, according to former government minister and populist leader Christoph Blocher.

Shareholders can get one share in each entity, Blocher said in an interview published in Sonntagszeitung, saying “technically it’s no problem.” He said the issue is the risk to the state which is hard to shoulder, and “therefore the bank has to be broken up.”