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Rachel Reeves reportedly pitched London as a potential new home for UBS

The Financial Times reports Reeves discussed the idea with UBS chair Colm Kelleher, most recently earlier in 2026.

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An entrance at the UBS offices in the City of London. Text on image reads: (FT Exclusive) UK government courted UBS over London HQ move (Credit: Jason Alden/Bloomberg)

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The Financial Times reports that Rachel Reeves pitched the City of London as a potential new home for UBS in discussions with its chair, Colm Kelleher, while she was chancellor. Their most recent meeting took place earlier in 2026. The paper says UBS is weighing its options amid new capital proposals.

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Rachel Reeves reportedly pitched London as a potential new home for UBS

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