UBS to move jobs to …(Drum roll)

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Some might call it luck, but Gov. Malloy's UBS deal looks divine.

Some might call it luck, but Gov. Malloy’s UBS deal looks divine.

Hey, things broke right for the Guv this time as Bloomberg reported this weekend, that UBS is going to move jobs out of New York City and into Stamford. Maybe.

We checked with UBS and the company seemed perplexed that Stamford was mentioned as a destination for employment growth. Bloomberg also cites a real estate pro who says UBS will move some work to the Avenue of the Americas.

Later, UBS said  it will honor its agreement with the state but would not comment on any movement of employees. Here’s what we found out officially. Mining some of our sources around town, it sounds like some jobs are coming back to Stamford, but not a flood of them.

Still if the initial report is right, things look good for Gov. Dannel P. Malloy.

Remember Gov. Malloy, fresh off his win in the election, confronted some bad news in his first year in office when UBS was allegedly going to move out of Stamford. He slipped the Swiss banking giant a sweet $20 million loan to keep about 2,000 employees in the City that Works through 2017.

Word was that some execs’  spouses didn’t like their significant others telling people they didn’t work in NYC. But Bloomberg is saying that the bank wants to trim some real estate costs.

Anyway, stay tuned for more.

And yes, for those devout Miniacs, we are back this week after a break. Sorry for the interruption of your news.

 

Categories: Banking, Economy, Wall Street
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Rob Varnon

2 Responses

  1. lulu says:

    Maybe it’s an opportunity for Robert E. Diamond, Jr. former CEO of Barclay to reinvent himself. The floor is yours.

  2. PresterJohn says:

    Word on the street is that their fixed income folks,ALL 150, will be complete gone from Stamford by Christmas. For UBS, it is a game to SORT of comply with their “agreement” but all one has to do is walk by the Stamford location to see that is a ghost town…with THE WORLDS LARGEST EMPTY TRADING FLOOR.
    UBS and the current administration can’t be trusted as they attempt to spin the numbers.