UBS may move US investment bank to NYC

A potential move by the Swiss bank could be a shot in the arm for New York's economy and would underscore the city's status as the world's key financial center.

A source familiar with the matter told Reuters earlier on Thursday that the bank was considering moving to Manhattan from Stamford, a sea-side town in neighboring Connecticut, although any potential move would not occur until 2015.

"I've been saying for the last 10 years: there is a reason to come to New York," New York City Mayor Michael Bloomberg told a local audience on Thursday.

"I'm not knocking Stamford or any other place, but the competitive proposition in New York ... is that this is the intellectual capital of the world. This is where young people in particular, but also people even my age, want to come," he said.

Connecticut and New York City, both eager for the Swiss banks' tax revenue, could start a bidding war for it. UBS' highly paid bankers and traders are also desirable because their work and spending creates jobs in other sectors.

UBS is considering locations in downtown and midtown -- or it may decide to stay in Stamford, knowledgeable sources said.

UBS is looking for 1 million square feet of space, the size of a large office tower. It has hired real estate services company CB Richard Ellis Group Inc to find space.