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Political Capitol

Brian Lockhart covers the Connecticut General Assembly in Hartford

Malloy to meet with UBS execs in Davos

Democratic Gov. Dannel Malloy just held a conference call with reporters about his experiences so far at the World Economic Forum in Davos, Switzerland.

He told us he’s had an “interesting and grueling” few days. One of the topics for discussion has been bioscience.

“I’m here. I’m working pretty hard,” Malloy said.

I asked the governor if he has any plans to meet with executives from Switzerland-based banking giant UBS.

UBS – a “strategic partner” in hosting the forum – is considered a cornerstone of lower Fairfield County’s financial services industry. The possiblity the company was planning on relocating to New York from its offices in Malloy’s hometown of Stamford resulted in the state ponying up $20 million last summer to convince them to stay at least five years.

“I’ll be speaking with folks from UBS tomorrow morning,” Malloy said. “Obviously maintaining a good working relationship with UBS is important to me personally in the sense I’m originally from Stamford (and) certainly important to me as governor. They’re a major employer in our state. There are no specific touch points accept I want them to know we appreciate their presence and hope for a speedy recovery in this economy.”

The Department of Economic and Community Development and UBS are still working out the final details of their $20 million agreement. The deal was initially anticipated to have been wrapped up in the fall.

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