Ex-Hedgie Named UBS Wealth Management CIO

Jun 3 2014 | 2:31am ET

UBS has turned to a former hedge fund manager to lead its wealth management business.

Mark Haefele was named global chief investment officer of wealth management and private banking yesterday. He succeeds his current boss, Alexander Friedman.

Haefele will be charged with identifying investment vehicles and overseeing asset management.

Haefele joined UBS three years ago alongside Friedman, whom he has known since college. Prior to his start at the Swiss bank, Haefele co-founded quantitative sports-betting hedge fund Sonic Funds and was a managing director at Matrix Capital Management.

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