UBS has started moving Credit Suisse out of the bank’s Canary Wharf skyscraper, in a fresh blow to the London financial district.
Credit Suisse staff in London were told in a memo on Tuesday that teams would begin to move to UBS’s UK head office in the City.
All staff were expected to leave Canary Wharf by the end of next year.
The memo said: “In an effort to bring the first teams together in one shared building, we’ll soon begin moving a number of colleagues to 5 Broadgate and exiting a number of floors at One Cabot Square.”
“Consolidating our real estate footprint to bring colleagues together in order to reinforce the way we engage with clients and employees is an important element of our real estate strategy.”
