UBS Global Asset Management has announced that its leading Alternative and Quantitative Investments (A&Q) hedge fund platform will be reorganised into two separate business areas with immediate effect – Alternative Investment Solutions (the multi-manager and hedge fund advisory business) and O'Connor (the single manager hedge fund business.)
The Alternative Investment Solutions (AIS) business will be led by Bill Ferri. AIS is today one of the largest investors in hedge funds in the world*. Under Bill's leadership, AIS will be expanded to include additional entrepreneurial businesses in the alternatives arena. Bill continues to be a member of the UBS Global Asset Management Executive Committee.
Dawn Fitzpatrick will assume full leadership of O'Connor, in addition to her current role as CIO. Dawn will become a member of the Global Asset Management Executive Committee, reporting to John Fraser, Chairman and CEO of UBS Global Asset Management.
According to John Fraser "the move allows each business to operate as distinct entrepreneurial boutiques – something that is increasingly important for our clients." He added, "it also provides focused leadership to drive the further growth of these successful alternatives businesses, a key strategic priority for UBS Global Asset Management."
UBS Global Asset Management is a large-scale asset manager with well-diversified businesses across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across all major traditional and alternative asset classes. Invested assets totaled USD 621 billion at 30 June 2013. The firm is a leading fund house in Europe, the largest mutual fund manager in Switzerland1 and one of the largest fund of hedge funds and real estate investment managers in the world.
AIS, the multi-manager and hedge fund advisory business, focuses on creating global diversified products to meet the demands of clients. With assets under management of USD 25.4 billion (as of 1 July 2013), AIS is one of the largest investors in hedge funds in the world.* AIS' investment teams are located in Stamford/New York, London, Zurich, Hong Kong and Tokyo.
The O’Connor business is dedicated to absolute return investment management and manages in excess of USD 5.2 billion (as of 1 July 2013) in non-traditional strategies. O'Connor has offices located in Chicago, London, New York, Hong Kong and Singapore.
1 Source: Lipper/Swiss Fund Data Swiss Promoters Report (as at 30 June 2013)
* InvestHedge Billion Dollar Club, March 2013