Frankfurt will be the central location for the UBS in the EU after Brexit


Swiss bank UBS Group decided to make Frankfurt its base location in the European Union after Brexit, preparing for Britain's withdrawal from the bloc without any agreement, Bloomberg reports. In addition, UBS will retain offices in Milan, Paris, as well as in the Spanish capital. It is reported that the bank's expenses for the transfer of personnel from London and legal costs amount to more than 100 million francs. USB also seeks to consolidate its position in the Chinese market, as Asia remains the key region for the growth of its profitability. Currently, the bank reduces investments in emerging markets, and also considers options for small acquisitions.

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