Gov. Dannel P. Malloy will head to Stamford today to make what's billed as a "major announcement" at UBS AG headquarters.
He'll be joined by the CEO of UBS Americas Phil Lofts.
Rumors have been swirling for months that the Zurich-based bank was moving its U.S. operations to lower Manhattan, but Bloomberg Businessweek reported last month that negotiations had ended.
The bank's departure from Connecticut would be a significant blow to Malloy, the city's former mayor. He is currently in the midst of a jobs tour, traveling around the state and visiting companies that are receiving tax credits to grow their businesses.
UBS moved to Stamford with much fanfare in the 1990s, after the legislature approved a 15-year, $165 million package of tax credits and other sweeteners in 1994. Malloy was not mayor when discussions to bring the bank to Connecticut first began but he highlighted his efforts to bring jobs to the city during his hard-fought campaign for governor last year. UBS employed about 3,500 people in Stamford, as of 2009.
Malloy's announcement will come at 3 p.m. today at the company's headquarters on Washington Boulevard.