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Read more: How a Russian oil giant bankrolled the Kurdish split from Iraq These investments, analysts say, put a new twist on Moscow's decades-old strategy of using energy to bind itself closer to client states around the globe.
While transport cost can be reduced by taking services closer to client homes, it could also lead to decentralization and reduction in waiting time.
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He added that "the bank's plan is to move to New York, but it's mostly to be closer to clients".
Since the 1960s, financial firms have been moving from the area to more modern buildings in Midtown, where they could be closer to clients and to the homes of their workers.
Ruth Porat, Morgan Stanley's chief financial officer, said the firm's larger sales force meant it could be closer to clients during the market uncertainty, a stance that helped it win some business from rivals.
BROADVIEW INTERNATIONAL, New York, an adviser to technology companies on mergers and acquisitions, said it had moved its headquarters and 60 employees from Fort Lee, N.J., to Manhattan to be closer to clients and venture capitalists.
The argument makes a certain intuitive sense, even if utilities like Green Mountain Power, and a fair amount of academic research, suggest that solar customers save utilities as much money as they cost them, by shaving peak demand and by moving power generation closer to clients, which reduces the electricity lost on power lines.
He did not detail such actions as might be taken, but merely said that IBM was "restructuring parts of our operations to reduce bureaucracy and move more of our people and resources out to the field, closer to clients".
TIAA-CREF also is moving back-office staff to Charlotte, N.C., where costs are a fraction of what they are in New York, while concentrating future growth closer to clients in Boston, San Francisco and at regional offices.
The outpost became a magnet for top-tier entertainment law firms, investment banks and insurance companies that could pay towering rents for prestigious addresses outside of L.A.'s lackluster downtown, closer to clients and to their own residences.
These logistical obstacles highlight the need to increase availability of CVCT services within existing programs, including antenatal, PMTCT, and antiretroviral treatment (ART) platforms, and to bring services closer to clients through mobile, home-based, or community testing initiatives [41], [42], [43], [44], [45], [46].
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com