UBS has put its massive, 12-acre Stamford complex up for lease, confirming rumors that it is mulling a move out of the city.
UBS has not commented on the move, but its leasing agents told The Stamford Advocate that the company was “evaluating all of its options.”
The financial services giant has been a major employer in Stamford since 1997. At one time it employed more than 4,000 people in the city, but now it’s half of that.
Joseph McGee of the Business Council of Fairfield County says the region will feel the impact if UBS leaves, but Stamford will adapt. "The financial investment sector is 11 percent of our economy in Stamford, and they are probably about 20 percent of that. So, yes, it's a blow -- you never want to see a major company leave, but on the other side, we have a far broader investment community here than simply UBS."
Governor Dannel Malloy signaled earlier this week that he believed UBS might not meet its commitment to the state to keep 2,000 employees in the city. If the bank relocates, it will have to repay a $20 million loan to Connecticut.
