The Zurich-listed bank – which last week announced that it had completed the migration of Swiss-booked clients from Credit Suisse – said the latest move will “strengthen our US banking platform” and enhance its service for clients and advisors.

UBS made the announcement via its LinkedIn page.

“Most importantly, nothing changes for our clients today. They will continue to have the same account and cash management services through their financial advisors,” UBS said.

Obtaining such a national charter is another way for UBS to flex its international muscle. The move also comes at a time when UBS senior managers have criticized Swiss federal lawmaker proposals to tighten capital regulations, a move that UBS says could put it at an unfair disadvantage against international rivals. A Reuters report in late October last year, quoting unnamed sources, said UBS is so concerned about Swiss capital rules that it might move its headquarters to the US. The Federal Council wants systemically important Swiss banks – such as UBS – to hold significantly more capital against their foreign units. UBS, Raiffeisen Group, Zürcher Kantonalbank and PostFinance are also deemed systemically important lenders.

UBS's NYC headquarters