NEW YORK (Reuters) - Swiss bank UBS Group (UBSG.S) 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 for TMT and Paul Findlay for European stocks, the announcement said.
Russell, a former Citigroup 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.
Reporting by Lawrence Delevingne; Editing by Jacqueline Wong