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UBS Hears That New York Is Pretty Cool, May Move Back
By
Christopher Robbins
Published Jun 8, 2011
Modified Jun 8, 2011
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By
Christopher Robbins
Published Jun 8, 2011
Modified Jun 8, 2011
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Brace yourselves for even more Vineyard Vines polos and icy stares from behind tinted glass: banking giant UBS wants to move back to the city. According to the Times, UBS just "can't hire the bankers and traders they need" from their Stamford, Connecticut location, which includes a massive trading floor "the size of two football fields." But what could be better than the Land of Lieberman? The still-nonexistent 3 World Trade Center. UBS has reportedly begun negotiating a lease there but its executives have so far refused to comment.
UBS first moved to the Nutmeg State 15 years ago after many corporations felt that "computers and telecommunications had made a Manhattan location more of a luxury than a necessity." That and $120 million tax incentive package didn't hurt. Because UBS is Connecticut's largest taxpayer, and "a quarter of office space" in Stamford is vacant, its governor has said that he's "committed to keeping UBS" and its 4,000 employees in the state. But if Condé Nast can afford to move into Lower Manhattan, relocating UBS to the city where many of its employees live anyway seems to make sense. At least it will give Reverend Billy a much larger place to protest.
Tagged
banking
connecticut
financial district
lower manhattan
ubs
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
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Gothamist is funded by sponsors and member donations
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