Back in June, Dealbreaker discussed the possibility of UBS moving out of its Stamford, CT building, which houses the largest trading floor in the world), and into New York City. The bank, which has not been doing too hot of late, seemed to be of the opinion that leaving Stamford would be a panacea for all its woes which, according to UBS, boil down to no one wanting to work in Connecticut (rather than no one wanting to work at a place that doesn’t pay and yells at you when you ask if this month’s check will clear)
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After several months of talks with developer Larry Silverstein about a possible deal at 3 World Trade Center, which conveniently has 5 trading floors located in “Tower 3,” UBS announced that it’d looked over its finances and realized it wouldn’t be able to come up with the money for a new place, and ditched the plan, while still moving a bunch of employees south and leaving the door open for a move to midtown, an idea that struck absolute terror or delight into the hearts and plums of everyone directly or indirectly related to UBS…
Find out more at http://dealbreaker.com/2011/08/connecticut-pays-ubs-20-million-to-stay/#more-50648
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