UBP Hedge Fund Advisory Chief, Ex-Alts. Head Out

Jun 17 2010 | 12:11pm ET

Union Bancaire Privée’s former head of alternative investments has left the firm.

Jan-Erik Frogg led the firm’s alts. practice through the Bernard Madoff scandal; UBP clients lost more than US$700 million in the Ponzi scheme. But Frogg was demoted last year to head of hedge fund advisory, with UBP bringing on Richard Wohanka as its new head of asset management and alternative investments to pick up the pieces.

UBP also planned to move most of its hedge fund business to New York from London and its Geneva headquarters, where Frogg was based.

Frogg's departure was first reported by Bloomberg News.

It is unclear what plans Frogg may have. He joined UBP from Agora Capital Management in 2004 after a stint at Goldman Sachs.

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