moving day

  • 13 Jul 2011 at 12:12 PM

UBS Will Personally Wrap The Knick Knacks Of Those Leaving Stamford For Points South In Bubble Wrap, Possibly Even Drive Them To The Train

By Bess Levin

As we have discussed at length, UBS might move its headquarters to downtown New York in the next several years, a possibility that strikes fear into the hearts of Stamford officials and drool onto the faces of those fantasizing about the moderately-priced cheesecakes to be pillaged at the Costco that could move into the 36,000 (or so) square foot space. It’s an emotional issue for all, including employees, who are divided in their feelings. One trader has said there’s no way in hell he’ll leave southern Connecticut, where he moved 16 years ago because of UBS, and where he met his wife and raises his kids. Another can’t wait, as the move would mean he’ll “save $300 a month in train fare and major aggravation.” The 50 or so “cash trading” employees who were moved yesterday do not have the luxury of pondering how all of this makes them feel, but they do have some good new to share- those relocating are gettin’ paid! Continue reading »

  • 12 Jul 2011 at 3:46 PM

UBS Begins Releasing Stamford-Based Employees Into The Wild

By Bess Levin

Last month we 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, seems to believe 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). Until recently, the talk has all been very casual, though it got kicked up a notch to semi-serious when word got out that senior execs had been speaking with developer Larry Silverstein about a possible deal at 3 World Trade Center, which conveniently has 5 trading floors located in “Tower 3,” causing more than a few people to flip out over the idea of a UBS-less Stamford. Still, though, the bank will more than likely be sticking it out for the next few years if not longer and may simply be playing games in order to get city/state officials to sweeten their stay. To that end, the news that 50 “cash trading” employees were moved to New York today shouldn’t be too distressing. Or should it? Continue reading »