UBS Adds Hedge Fund Manager To Private Bank

Feb 28 2011 | 10:26am ET

UBS has hired a hedge fund manager to assist its newly-named private banking chief investment officer.

Mark Haefele has been hired to lead investment analysis at UBS Wealth Management. He will report to the former CFO of Microsoft founder Bill Gates' massive charitable effort, Alexander Friedman, who was named CIO of the private bank.

Haefele is a founder of Boston-based Sonic Funds, a quantitative sports-betting hedge fund. Friedman is no stranger to the private funds world, either, having left the Gates Foundation last year to found a firm called Asymmetry.

"The chief investment officer function will focus on wealth protection and optimized financial returns consistent with client objectives," UBS said. "Friedman and his team will be responsible for defining and proposing appropriate investment allocations and strategies and for communicating them across the platform."


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.