UBS, one of the largest private banks in the world, is doubling down on Uptown with its new UBS Wealth Advice Center hub, adding another shot in the arm to the rapidly growing finance sector in Dallas.
UBS is leasing 26,000 square feet of office space at 23Springs on 2323 Cedar Springs Road for its UBS Wealth Advice Center hub, according to a filing with the Texas Department of Licensing and Regulation. It's also spending $5.6 million in renovations to the interior of 23Springs, expected to be completed in June.
The new hub is just down the road from the company's current office space at The Crescent, which will remain. The hub will hire 170 people, on top of the roughly 150 employees at the Crescent.
"Dallas offers a dynamic market and a central location for our next Wealth Advice Center hub, which enhances our existing presence in the region and supports our national expansion," Len Golub, head of the UBS Wealth Advice Center, said in a statement to KERA. "This is more than opening a new space; it’s an investment in our future and in the communities we serve.”
The hub will help people plan out and manage their finances, and help UBS target the "mass affluent client segment," Golub said.
The bank, more than 160 years old, had nearly $7 trillion in investable assets as of Sept. 30, 2025, according to the company's website. Its investment into the area reflects a growing disparity in the perception between Uptown and Downtown.
Dallas City Council member Paul Ridley, who's district covers Uptown, said he's pleased, but not surprised, by the investment.
"There's a certain desirability about Uptown for employers looking to attract younger workers, in particular because of how active Uptown is and how walkable a district it is," Ridley said.
While international banks bet big on Uptown offices, AT&T announced it's relocating its global headquarters from the Discovery District downtown to Plano.
When asked why he thinks Uptown is doing so well, Ridley said "it's simply the marketplace."
"This is not happening because of any specific policy by the city to put new businesses, or newly arrived businesses, in Uptown as opposed to Downtown," Ridley said. "It's just a free market at work."
But the city council also isn't sitting idly by. For example, council members approved a $2.7 million economic development grant to Scotia Bank in August.
Ridley said he expects the investment from UBS and other banks in the area will continue to attract financial service firms.
"This is the marketplace at work," he said. "They see a desirable location, and they have decided to invest here."
Dylan Duke is KERA's Breaking News Reporter. Got a tip? Email Dylan Duke at dduke@kera.org.
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