New York, July 30, 2018 – UBS and WeWork have announced a partnership to redesign three floors of the UBS Wealth Management USA Headquarters in Weehawken, New Jersey. The partnership, which will represent Powered by We’s largest project since its official launch in January 2018, is aimed at driving employee engagement, attracting and retaining talent, fostering innovation and increasing productivity within UBS’ Lincoln Harbor campus.
The scope of the project will comprise more than 100,000 square feet and includes a redesign of the lobby, a multi-purpose common area which will include UBS's largest learning and development center in the U.S., and a workspace that brings together UBS's IT and digital groups. The location is home to approximately 4,400 employees across Wealth Management USA as well as UBS employees in Corporate Center functions like operations and technology.
As more people want to work in environments that allow them to thrive personally and professionally, this partnership demonstrates the growing understanding that workspace has an important role to play in employee performance, collaboration and satisfaction. Additionally, more thoughtfully designed workspaces can yield greater employee satisfaction and increased productivity. Today, more than 40 percent of WeWork’s enterprise members -- companies that have 1,000 or more employees -- are choosing to partner with WeWork to create a more creative, entrepreneurial environment.
UBS’s partnership with WeWork demonstrates its broader commitment to creating collaborative, engaging workspaces for its employees around the world, including the firm's 5 Broadgate location in London, and its flagship offices in Zurich and Hong Kong. Each of these buildings has an open plan environment with a range of settings that allow teams at UBS to work together in a smarter, more flexible and more dynamic manner.
“Today more than ever, we must partner closely across all of our businesses and functions so that we deliver even more value to our clients," said Marc Montanaro, Head of Human Resources, Wealth Management Americas and the Americas. "Collaboration is at the core of UBS's culture. It's key to our success, and so we are committed to creating smart and engaging workspaces that bring our employees closer together. By partnering with WeWork to create this modern, community-focused workspace, we aim to increase employee productivity, encourage more frequent interaction, and attract the next generation of talent.”
WeWork’s integrated team of designers, architects and workplace strategists worked closely with UBS to analyze the firm's needs through qualitative and quantitative research, including interviewing employees and using spatial analytics. Through this analysis, WeWork’s team saw a need to reconfigure UBS's meeting rooms to encourage greater collaboration, add more multi-functional space to support different ways of working -- from deep focus to team projects -- and incorporate amenities that support employee wellness.
“The way people work is undergoing a fundamental shift and more enterprise leaders are recognizing the correlation between physical space and performance," said Dave Fano, Chief Growth Officer for WeWork. “We know from operating more than 280 workspaces around the world that every company is different - with its own unique culture, vision and team. As with all of Powered by We projects, we’re working closely with UBS to analyze their needs and build a space that supports its goals, all while gathering real-time data to inform design choices across our global network.”
UBS's reimagined campus will include multi-functional areas that can be reconfigured and activated throughout the workday. For example, a lounge adjacent to an inviting new cafeteria can host lunch and learn events, the 500-seat auditorium can open up for receptions, and individual meeting rooms can be divided and expanded as part of a flexible working environment. New amenities such as a coffee bar, juice bar and dedicated wellness rooms make the campus more welcoming, interactive and responsive to the needs of modern employees. Upon completion, WeWork will use real time data and spatial analytics to continuously improve the configuration and functionality of the space.
UBS is one of 30 Powered by We clients that WeWork has signed globally since officially launching the offering at the start of 2018. These include clients across the financial services, insurance, software, telecommunications, retail, entertainment, healthcare, travel and real estate industries. Powered by We is part of WeWork’s offering for enterprise members, which is the fastest growing segment of its membership base and includes 25% of the Fortune 500.
About UBS Global Wealth Management
As the world’s largest wealth manager, UBS Global Wealth Management provides comprehensive advice, solutions and services to wealthy families and individuals around the world. Clients who work with UBS benefit from a fully integrated set of wealth management capabilities and expertise, including wealth planning, investment management, capital markets, banking, lending and institutional and corporate financial advice.
WeWork provides its members around the world with space, community, and services through both physical and virtual offerings. From startups and freelancers to small businesses and Fortune 500 companies, our community is united by a desire for our members to create meaningful work and lead meaningful lives—to be a part of something greater than ourselves. Co-founded by Adam Neumann and Miguel McKelvey in New York City in 2010, WeWork is a privately held company with over 5000 employees. Follow us @WeWork on Twitter, Instagram, and Facebook or visit wework.com to learn more.
Maya Dillon, UBS Global Wealth Management Media Relations
Arif Shah, Annie Lohmeyer, WeWork