UBS AG (UBSN), Switzerland's biggest lender, may move the staff of its U.S. investment bank from Stamford, Connecticut, to the World Trade Center in Manhattan by 2015, a person with direct knowledge of the plan said, according to an article yesterday by Jacqueline Simmons and Elena Logutenkova at Bloomberg.net.
"Some employees from equities and investment banking have already relocated from UBS's Stamford location, which houses the world's biggest trading floor, to other offices in New York City, the person said. The rest would be moved in coming years, said the person, who declined to be identified because plans for the transfer haven't been publicly disclosed," the article said.
UBS is in discussions with New York developer Larry Silverstein for occupying about 800,000 square feet at Three World Trade Center, one of four towers slated to be built on the 16-acre site, according to another person familiar with the talks. The person declined to be identified because the discussions are private. Currently, UBS's biggest New York City offices are at 299 Park Avenue and 1285 Avenue of the Americas.
World Trade Center Tower Three was designed by architect Lord Richard Rogers and stands apart from its neighboring towers through its diamond-shaped external bracing pattern and four rooftop antennae. It us located at 175 Greenwich and is the middle of the center's three east side towers.
Three WTC is planned to rise 71 stories (1,137 feet) and house 2.1 million square feet of office and 133,000 square feet of retail space.
The tower when complete will feature five trading floors, five retail levels (including two below grade), and mechanical floors at the base and crown of the building. Like all of the new WTC towers, Tower Three is planned to be LEED Gold certified by the U.S. Green Building Council.
"The Swiss company is trying to rebuild its investment bank after record losses during the financial crisis. The lender had the lowest 2010 revenue from trading, underwriting stock and bond sales, and advising clients on mergers and acquisitions among the nine biggest investment banks, according to data compiled by Bloomberg. UBS ranked fourth by revenue among 10 competitors in 2004, the data show," the article said.
"Some employees from equities and investment banking have already relocated from UBS's Stamford location, which houses the world's biggest trading floor, to other offices in New York City, the person said. The rest would be moved in coming years, said the person, who declined to be identified because plans for the transfer haven't been publicly disclosed," the article said.
UBS is in discussions with New York developer Larry Silverstein for occupying about 800,000 square feet at Three World Trade Center, one of four towers slated to be built on the 16-acre site, according to another person familiar with the talks. The person declined to be identified because the discussions are private. Currently, UBS's biggest New York City offices are at 299 Park Avenue and 1285 Avenue of the Americas.
World Trade Center Tower Three was designed by architect Lord Richard Rogers and stands apart from its neighboring towers through its diamond-shaped external bracing pattern and four rooftop antennae. It us located at 175 Greenwich and is the middle of the center's three east side towers.
Three WTC is planned to rise 71 stories (1,137 feet) and house 2.1 million square feet of office and 133,000 square feet of retail space.
The tower when complete will feature five trading floors, five retail levels (including two below grade), and mechanical floors at the base and crown of the building. Like all of the new WTC towers, Tower Three is planned to be LEED Gold certified by the U.S. Green Building Council.
"The Swiss company is trying to rebuild its investment bank after record losses during the financial crisis. The lender had the lowest 2010 revenue from trading, underwriting stock and bond sales, and advising clients on mergers and acquisitions among the nine biggest investment banks, according to data compiled by Bloomberg. UBS ranked fourth by revenue among 10 competitors in 2004, the data show," the article said.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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