The wealth management unit of UBS has formed a new division to focus on trading strategies.
As part of the move, the firm has hired Vinay Pande, former partner of hedge fund Brevan Howard, as new managing director and head of trading strategies in the UBS Chief Investment Office.
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The creation of the new team is part of UBS effort to meet demand from ultra wealthy clients for shorter-term trading options.
Pande will join the team along with three former colleagues from Brevan including Gerald Lucas, Yang Tang and Miguel Costa.
The new team aims to generate short-term trade recommendations for clients, following increasing demand from UHNW investors for investing on a time horizon shorter than the wealth manager’s standard six-month time frame.
The ex- Brevan Howard team has previously worked with Deutsche Bank.
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By GlobalDataPande joined Brevan in 2012 and managed a global multi-asset fund for the firm. He formerly worked as chief investment adviser at Deutsche Bank and also held roles at Caxton Associates, Goldman Sachs, Credit Suisse and JPMorgan.
"These are the first hires we have made that focus on short-term investment strategies," Simon Smiles, head of the UHNW and alternatives team at UBS’s Chief Investment Office, said in an interview.
