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Letter from Zurich: UBS puts its weight behind wrestling

Despite its domestic strength, Swiss regulators have put UBS in a wrestling hold of their own

UBS recently announced plans to sponsor the sort of sporting event one might not readily associate with the buttoned-up world of Swiss banking: Schwingen. Schwingen, a Swiss form of wrestling, features two massive opponents grasping at each other’s shorts on a bed of sawdust. It’s a popular sport in UBS’s home market.

Although UBS's Swiss-based businesses are often overlooked in favour of the lender's internationally focused wealth management and investment banking units, they make up a significant portion of overall operations. UBS reckons it handles one out of every six Swiss francs saved in the country, and provides for one out of every five francs spent with a debit card here. Its single biggest loan portfolio is made up of Swiss mortgages.

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