Switzerland’s UBS Global Wealth Management has relocated its North-East office.

UBS Global Wealth Management has signed a five-year lease for its new office (pictured) at the recently-revamped 1 Citygate building, situated at the top of St James’ Boulevard in Newcastle’s business district. 

“Newcastle is one of the great Northern cities posing significant economic potential, with business confidence in the North-East on the up and tech among the sectors projected to drive growth,” Debjani Raffan, regional head for the North of England at UBS said. “Our new office is at the centre of all the action, strengthening our position at the heart of the business landscape and supporting our ambitions for growth in the North-East as well as across the wider Yorkshire landscape.” 

The firm, which has a strong presence across the North of England and Scotland, has been making a number of hires recently to increase cover in the North East. Julius Baer International also recently opened an office in Newcastle to serve clients in the North East. See more commentary here and here.

Allister Hogg, client advisor in UBS’s Newcastle team, highlighted the benefits of the new office: “Our new office is also located at the gateway to the city with great road and rail links, making it easy for us to visit our clients across the North East and beyond.” 

“UBS has a strong presence across the North, and we see Newcastle and the wider North-East region as a major growth opportunity for the business,” Victoria Hagmann, head of wealth management UK, Jersey & Guernsey at UBS, added. “Having local advisors who understand the unique regional landscape and can draw on UBS’s centralised, established expertise means we can service clients in the North-East community in a personalised way. We’ll also continue expanding the team's presence in the region through recruitment to build out the team and further investments.”