By Lawrence Delevingne
NEW YORK (Reuters) - Swiss bank UBS Group (S:UBSG) is expanding an internal hedge fund under new chief investment officer Kevin Russell.
UBS O'Connor, the $5.6 billion multi-strategy fund unit of UBS Asset Management, has hired 7 portfolio managers for new roles in New York, Chicago and London, according to an internal announcement seen by Reuters.
A UBS spokesman confirmed the contents of the announcement but declined further comment.
The new hires include Erin Browne, who joined from Point72 Asset Management who will focus on macroeconomic-themed investments in New York; Ryan Stephens, an alum of Citadel unit Surveyor Capital who will focus on investing in financial company stocks in Chicago; and Anthony Burton, who worked at GLG Partners and will co-run a technology, media and telecommunications (TMT) equity strategy in London, according to the announcement.
The other four portfolio managers hired are Andrew Hamerling, James Moynihan and Phil Pearson (LON:PSON) for TMT and Paul Findlay for European stocks, the announcement said.
Russell, a former Citigroup (NYSE:C) executive, earlier this year replaced Dawn Fitzpatrick as O'Connor's CIO following her expanded role as global head of equities, multi-asset, and O'Connor at UBS Asset Management.