UBS has given Bruce Amlicke the keys to its fund of hedge funds kingdom, just a year after luring him back to the firm.
Amlicke was named global head of UBS' newly-combined fund of funds unit. Since his return to UBS last year, Amlicke has served as co-head of one of the three divisions now unified under his command, alternative investment solutions. Now, he'll also oversee its Zurich-based alternative funds advisory group and a former part of UBS' wealth-management business.
Amlicke, based in Stamford, Conn., will also serve a co-chief investment officer of the combined unit, alongside Rick Nardis, his co-CIO of alternative investment solutions. Nardis will now be co-CIO of the combined fund of funds business.
Ulrich Keller, CIO of the Zurich group, will leave the firm, Hedge Fund Alert reports. He'll stay on after Amlicke officially takes over on July 1 to ensure a smooth transition.
Amlicke, who left UBS in 2004 to join the Blackstone Group, retiring five years later, will oversee a unit with tens of billions of dollars in assets under management and a staff of about 100.