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Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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UBS' Alternative Division Separates

Aug 22, 2013
Jing Chen

UBS’ Alternative and Quantitative business, which is comprised of hedge fund unit O’Connor and the fund of hedge funds arm known as Alternative Investment Solutions, will be organized into two separate businesses.

The Swiss bank announced through a statement Thursday that the plan is effective immediately.

John Fraser, chairman and CEO of UBS Global Asset Management, explained that “the move allows each business to operate as distinct entrepreneurial and also provides focused leadership to drive the further growth of these successful alternatives businesses.”

The AIS unit, led by Bill Ferri, will be expanded to include additional entrepreneurial businesses in the alternatives arena while O’Connor will be run by the unit’s former investment chief officer Dawn Fitzpatrick.

O’Connor manages approximately $5.7 billion in assets, while AIS is one of the largest hedge fund investors in the world with about $621 billion in total assets invested.

 

Source: 

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