UBS will have just one London office after the Swiss bank took the decision not to renew the lease in its building in the heart of the City.

The Swiss bank has been dwindling the number of offices it has in London, as it aims to house all its City staff in its UK headquarters at 5 Broadgate. Its decision not to renew the lease on its 1 Golden Lane office will complete the 10-year journey of going from 13 London buildings down to one.