Warren Requests UBS Chairman Divulge Details of Bessent Talks

US Senator Elizabeth Warren has written to UBS Group AG Chairman Colm Kelleher asking for details of any discussions he may have had with Treasury Secretary Scott Bessent over a potential relocation of the bank to the US.

In a letter dated Dec. 9 and seen by Bloomberg News, Warren requested Kelleher provide a summary of interactions with Bessent and any other officials with whom he may have interacted in recent months on the topic — including if he’d been offered incentives to relocate the global wealth manager amid its standoff with the Swiss government on capital.

Colm Kelleher

Photographer: Pascal Mora/Bloomberg

“Have you ...