Wednesday, 25 May 2016
Last updated 7 hours ago
May 17 2013 | 10:47am ET
UBS' hedge fund unit is bleeding traders.
UBS O'Connor has lost at least six stock traders this year, Bloomberg News reports. Some have moved on to other prominent hedge funds.
Three—Felipe Cruz, Arnaud Langlois and Mark Napp—have joined Millennium Management in London. Two others, Bernard Ahkong and Rabin Tambryaha, have moved to BlueCredt Capital Management, and Jason Randolph is now at Tudor Investment Corp.
All six were portfolio managers at UBS O'Connor.
"O'Connor has approximately 90 front-office investment professionals, and like most hedge funds will have departures and new joiners in any given year," UBS spokesman Ollie Gadney told Bloomberg.