UBS Hires Brevan Howard EM Economist Kapteyn

May 16 2016 | 7:25pm ET

Brevan Howard Asset Management economist Arend Kapteyn has joined UBS AG’s investment banking unit as chief economist.

Kapteyn will reportedly join the Swiss bank on August 1, according to a Bloomberg article citing an internal memo. He will be based in London and will report to Juan Luis Perez, UBS’s global head of investment bank research.

Kapteyn began his career with the Central Bank of the Netherlands, and held positions with the IMF and Deutsche Bank AG, where he was chief economist for the EMEA region. He left Deutsche in 2010, according to his LinkedIn profile. 

The move is in contrast to the recent wave of traders and research executives leaving large wirehouses and investment banks for hedge funds and other alternative asset managers, as higher regulations and stricter capital requirements put dents in trading, market making and other activities. 

However, Brevan Howard has been under severe pressure since the middle of last year as results have slipped and redemptions have accelerated. The company’s flagship macro hedge, which managed around $27 billion two years ago, now has AUM under $18 billion. 

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