SWISS DAYBOOK: UBS May Move U.S. Investment Bank Staff, Novartis
UBS AG (UBSN), Switzerland’s biggest lender, may move the staff of its U.S. investment bank from Stamford, Connecticut, to the World Trade Center in Manhattan by 2015, a person with direct knowledge of the plan said.
Some employees from equities and investment banking have already relocated from UBS’s Stamford location, which houses the world’s biggest trading floor, to other offices in New York City, the person said. The rest would be moved in coming years, said the person, who declined to be identified because plans for the transfer haven’t been publicly disclosed.
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MARKETS: *The SMI climbed 1.3 percent to 6,554.71 *The SPI rose 1.2 percent to 6,023.04 *The Stoxx Europe 600 Index gained 0.8 to 281.03 *The MSCI Asia-Pacific Index rose 0.2 percent to 136.61 at 7:16 a.m. Zurich time *Euro-franc traded at 1.2307 at 7.16 a.m. Zurich time
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