UBS Global Asset Management has divided its alternative and quantitative investments hedge fund platform into two separate business areas.
The first will be the multi-manager and hedge fund advisory business, which will be known as the Alternative Investment Solutions (AIS) group.
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The second unit is the single manager hedge fund business, which will be called O’Connor.
Bill Ferri will lead the AIS business, which the company claims is one of the largest investors in hedge funds in the world with assets under management of US$25.4 billion as of 1 July 2013.
AIS’ investment teams are located in Stamford/New York, London, Zurich, Hong Kong and Tokyo.
Ferri, who will continue to be a member of the UBS Global Asset Management executive committee, will expand AIS to include additional entrepreneurial businesses in the alternatives arena.
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By GlobalDataDawn Fitzpatrick will lead O’Connor apart from her current role as CIO.
Fitzpatrick will become a member of the global asset management executive committee and will report to John Fraser, chairman and CEO of UBS Global Asset Management.
The O’Connor business manages more than US$5.2 billion as of 1 July 2013 in non-traditional strategies with offices in Chicago, London, New York, Hong Kong and Singapore.
Fraser said the move allows each business to operate as distinct entrepreneurial boutiques, something that is increasingly important for the company’s clients.
"It also provides focused leadership to drive the further growth of these successful alternatives businesses, a key strategic priority for UBS Global Asset Management," Fraser said.
