UBS said pondering Stamford office complex move

Exit Sign

UBS is considering whether to move out of its office complex in Stamford, Connecticut, according to a person with knowledge of the plans.

Bloomberg News reports that the bank is examining its options for the campus close to Stamford’s train station, where it has a lease that runs through 2017, said the person, who asked not to be named because the discussions are private.

At the same time, the landlord of the bank’s three buildings in Stamford has hired Cushman & Wakefield to explore leasing alternatives for the property, said Jay Hruska, a vice chairman in the brokerage’s Stamford office. The 725,000-square-foot (67,000-square-meter) complex, owned by AVG Stamford Members LLC, has a trading floor that is one of the largest in the world, about the size of two football fields.

UBS has been evaluating what to do with its Stamford offices for several years. In 2011, the bank considered moving its staff to 800,000 square feet at 3 World Trade Center, a skyscraper under construction in lower Manhattan. Instead it made a deal with Connecticut’s government to keep at least 2,000 jobs in the state, in return for a $20 million loan.

Hit the link below to access the complete Bloomberg News article:

UBS Said to Consider Leaving Connecticut Office Complex

Boies Labels AIG Bailout Cozy Deal as U.S. Preps Defense

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts