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Saturday 07th of August 2010

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August 4, 2010

UBS proceeds with City office plans

by Gill Montia

Story link: UBS proceeds with City office plans

UBS is reported to be proceeding with plans to relocate its London operations and create the largest office building in the City.

The Swiss bank is understood to have agreed a £340 million project with British Land and private equity group, Blackstone, for the transformation of 4 and 6 Broadgate.

The news comes as JPMorgan’s commitment to a new Canary Wharf headquarters remains uncertain.

Plans for the European hub were confirmed in 2008 but the bank’s chief executive, Jamie Dimon, is known to have since been unsettled by the prospect of a new regulatory and tax regime in the UK, and the period of austerity promised by the coalition Government.

 

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