UBS CEO refutes rumors about threats to leave Switzerland, calling them baseless rumors.

UBS Group CEO Ralph Hamers strongly refuted rumors that the bank is planning to leave Switzerland, stating that the management is seeking a compromise on controversial capital regulation rules. "UBS as a Swiss bank is the most desirable outcome, and Chairman Colm Kelleher and I are working towards that - any other claims are baseless," Hamers said at the J.P. Morgan European Financials Conference on Thursday. "We have never, and will never threaten to leave this country. It is absurd."