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Old 04-28-2011, 01:00 PM
 
Location: Austin
15,640 posts, read 10,398,506 times
Reputation: 19549

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It denies the rumors. Has anyone heard anything from one of the employees? If this is true, this is bad news for Fairfield County.

 
Old 04-28-2011, 01:49 PM
 
487 posts, read 537,477 times
Reputation: 433
Haven't heard anything but the article states that only the traders and equities department would move back into the city.
 
Old 04-28-2011, 02:15 PM
 
Location: Florida
11,669 posts, read 17,958,320 times
Reputation: 8239
Given the trend of businesses leaving CT and more layoffs around the corner from Northeast Utilities, UTC and State of CT employees, one wouldn't be surprised. However, I think this particular story is a rumor!
 
Old 04-28-2011, 02:20 PM
 
Location: Connecticut
34,948 posts, read 56,980,181 times
Reputation: 11229
I can tell you that this is not true. UBS has over 3,200 employees in Stamford and their facilities are extensive. Their trading floor in Stamford is the world's largest and is an intricate part of their operations in North America. This is not something they can just walk away from. UBS has been consolidating people from leased space downtown into the main building though but that has nothing to do with them leaving. Jay
 
Old 04-28-2011, 05:32 PM
 
718 posts, read 761,875 times
Reputation: 695
Strategically, it makes more sense for UBS to go to Manhattan. Stamford is expensive already and moving to NYC, they can get more talent in NYC for their equity business.
 
Old 04-28-2011, 05:50 PM
 
Location: On the Rails in Northern NJ
12,380 posts, read 26,861,461 times
Reputation: 4581
So NYC is cheaper then Stamford? That doesn't make any sense , if NYC was cheaper then Stamford , White Plains or New Brunswick you would see companies relocating there. This is not the case , which is a good thing....future wise you might see more companies moving to the cheaper Satilite cities. Since all 3 Major Satilite Cities are on Rail lines feeding into NYC its not the hard to get talented people.
 
Old 04-28-2011, 05:59 PM
 
Location: Coastal Connecticut
21,770 posts, read 28,108,607 times
Reputation: 6711
Stamford is definitely approaching Manhattan rents by square foot. It's not as competitive as it used to be when it was in a big growth phase.
 
Old 04-28-2011, 06:04 PM
 
Location: On the Rails in Northern NJ
12,380 posts, read 26,861,461 times
Reputation: 4581
Quote:
Originally Posted by mkiv808 View Post
Stamford is definitely approaching Manhattan rents by square foot. It's not as competitive as it used to be when it was in a big growth phase.
So i guess in the Satilite City Race , White Plains will overtake Stamford in the near future?
 
Old 04-28-2011, 06:26 PM
 
718 posts, read 761,875 times
Reputation: 695
Quote:
Originally Posted by Nexis4Jersey View Post
So NYC is cheaper then Stamford? That doesn't make any sense , if NYC was cheaper then Stamford , White Plains or New Brunswick you would see companies relocating there. This is not the case , which is a good thing....future wise you might see more companies moving to the cheaper Satilite cities. Since all 3 Major Satilite Cities are on Rail lines feeding into NYC its not the hard to get talented people.
I never said Stamford is cheaper then NYC. I said Stamford is already expensive, so moving to NYC isn't going to be a big hit on their wallets

But getting the right talent in equities could mean billions of dollars. That's why NYC is the financial capital of the country. A lot of the top talent are there, easier to recruit.
 
Old 04-28-2011, 07:13 PM
 
Location: Southwestern Connecticut
811 posts, read 1,739,777 times
Reputation: 369
I thought one of the reasons UBS and RBS located to CT was a lot of top talent was in the suburbs.

UBS in play? | Westfair Online (http://westfaironline.com/2011/10324-ubs-in-play/ - broken link)
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