UBS Trimming Stock Team In Hedge Fund Unit

Jun 4 2013 | 11:39am ET

UBS' hedge fund unit will lay off more than one-third of its equity long/short team.

UBS O'Connor plans to slash 16 positions from the fundamental long/short team, which currently employs 46 of its 80 employees. Most of the layoffs will be in the U.S., and are not related to the bank's plan to slash 10,000 jobs.

The layoffs were first reported by Dealbreaker.com.

The US$5.7 billion hedge fund also plans to triple the size of its corporate credit relative-value team to 15 members.

"We regularly review our business mix to address market changes and focus our resources where we see the most attractive risk-adjusted investment opportunities," UBS spokewoman Megan Stinson told Bloomberg News. "We are actively expanding in areas that marry strong investor demand with our talented investment professionals."


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR