UBS Prop. Desk To Become Hedge Fund

Feb 27 2012 | 2:44pm ET

UBS is set to spin-off a macro proprietary trading group as an independent hedge fund under one of its top executives in Australia.

MST Capital will split from the Swiss bank next month. The new firm will be led by Gerard Satur, formerly head of securities in Australia and equity trading in the U.S. at UBS.

"We're spinning out of the best investment bank in Australia," Satur told Bloomberg News. "We have a very experienced investment team across all asset classes."

Satur, now chief investment officer for macro strategic trading, will employ a macro strategy in his new firm. Sydney-based MST hopes to raise as much as A$500 million (US$535 million) for the new vehicle, and is targeting annualized returns of 10% to 15%.

MST's team includes Jeremy Hooper, formerly of Morgan Stanley, and Matthew Mulcahy, formerly of Pacific Investment Management Co. Both men currently work at UBS' investment bank.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).