UBS Streamlines Fund Operations, Names Fitzpatrick Chief of New Unit

Nov 24 2015 | 7:37pm ET

UBS is streamlining its fund operations, putting UBS O’Connor head Dawn Fitzpatrick in charge of a new business unit that will combine hedge fund, equity and multi-asset investing operations into a single entity. 

Like many large global banks, UBS is implementing new structures aimed at streamlining operations and improving margins as new regulatory hurdles and capital requirements begin to take effect. 

Fitzpatrick originally joined UBS O’Connor’s predecessor firm in 1990, and was named head of the bank’s hedge fund business in 2013, according to a Bloomberg article citing an internal memo. Last week, the unit named former Citigroup global head of equity trading Kevin Russell to the role of chief investment officer starting in 2016, when he will report to Fitzpatrick along with multi-asset investing chief Andreas Koester under the new structure. 

Tracing its lineage back to 1977 as a Chicago-based derivatives specialist, UBS O’Connor manages approximately $5.6 billion deployed across global long/short equities, credit long/short, merger arbitrage and convertible arbitrage strategies.


In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...

Lifestyle

Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...

 

Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…