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Ralph Hamers has found a home in Switzerland. The new head of UBS does not live on Lake Zurich, but on Lake Zug. The low-tax canton is the new foster home of the UBS chief. This is demonstrated by the commercial register documents. The Tamedia newspapers reported it first.
Hamers was in the pay of ING Bank for nearly three decades. This spring he received the offer from UBS. He has been in office since November. He succeeds Sergio Ermotti from Ticino, who will chair the reinsurance company Swiss Re.
Saying goodbye to ING-Bank was not easy for Hamers. He left his long-term employer in tears. The companions said goodbye to him with emotional words. Even Hamers’ 20-year-old twins made an appearance. You stay behind in Holland.
Residence as a political issue
Hamers lives with his wife on Lake Zug. Taxes may also have been a reason for the liquidation. The maximum tax rate is 22.4 percent. That is a record. No other city in Switzerland can compete here.
For comparison: in the city of Zurich, the maximum tax rate for individuals is 40%. And yet some of the city’s top income remains loyal. Swiss Re president Walter Kielholz once said that moving was not an option. “What should I do on a wet and shady slope?” He responded when asked by “SonntagsBlick” if he was considering moving to the tax-saving Freienbach SZ or Wollerau SZ.
UBS barely commented on Hamers’ new home. “That is his private matter,” says a spokesman. (ise)
