D.E. Shaw has recruited a former UBS executive to join the New York-based hedge fund giant.
Financial News reported that Stephan Michel, who left UBS in November as head of its non-core and legacy for Europe, Middle East and Africa, joined DE Shaw in mid-March. He is responsible for assisting on credit opportunities.
Earlier in Michel’s career, he worked at structured credit asset manager Cairn Capital as a chief risk officer until he joined UBS in 2008 as a managing director.
With about $32 billion in assets under management, D.E. Shaw uses sophisticated trading models to buy and sell assets.