UBS and its belief in the superior performance of hedge funds is seemingly unshakable. The company is strengthening the O'Connor platform further – and with the move, the position of the boss of the platform.
Dawn Fitzpatrick's star couldn't shine any brighter: the head of hedge funds, equity and multi-asset strategies at UBS Americas has been able to extend her influence further, «Reuters» reported.
UBS O'Connor, the bank's hedge fund, has hired seven new portfolio managers as it bids to further develop the investment vehicle, with assets worth $5.6 billion.
Starting Out as a Secretary
Fitzpatrick has had a stellar career at O'Connor: after starting out as secretary, she climbed the career ladder and became boss of the fund and in November 2015 she took the next step up.
Fitzpatrick was replaced by Kevin Russell as investment boss at O'Connor, joining from Citigroup. Russell will also assume responsibility of the new team, which comprises Erin Browne, Ryan Stephens, Anthony Burton, Andrew Hamerling, James Moynihan, Phil Pearson and Paul Findlay.
Credit Suisse Looks After Different Solutions
UBS O'Connor is part of Ulrich Koerner's Global Asset Management unit.
With the move, UBS is making a clear statement in favor of hedge funds, all the while its rivals are giving up on the vehicles following disappointing performances in recent months. Credit Suisse for instance is looking after different solutions, finews.ch reported last week.
