The hedge fund arm of Swiss bank UBS has promoted the unit’s investment chief officer.
Bloomberg reported that in her new role, Dawn Fitzpatrick will be responsible for running all aspects of UBS O’Connor out of the bank’s New York office. Fitzpatrick will report to John Fraser, who runs UBS’ global asset management division.
While UBS O’Connor has hired four portfolio managers and three other investment professionals in the last eight weeks, at least seven portfolio managers have left the firm this year to join other rival firms including BlueCrest Capital Management and Millennium Management.
UBS O’Connor manages approximately $5.7 billion in assets.