UBS latest bank to plan for Brexit by moving €32bn

UBS has received approval from a London court to move up to €32bn in assets from Britain to Germany as part of plans to keep business in the EU after Brexit.

UBS, Switzerland’s biggest bank, received approval from Judge Alastair Norris to transfer operations from UBS Limited, its London-based subsidiary primarily handling investment banking activities, to Frankfurt-domiciled UBS Europe on March 1.