MONEY MANAGEMENT

Soros Fund Management names new CIO

Dawn Fitzpatrick will join Soros Fund Management as chief investment officer in March.

Ms. Fitzpatrick will assume oversight of George Soros' $25 billion family office from Ted Burdick, according to people with knowledge of the matter, Bloomberg reported.

Michael Vachon, a spokesman for Soros Fund Management, did not return a call seeking more information.

Mr. Burdick will return to managing credit investments for the firm as a portfolio manager, the role he had before being named CIO about a year ago.

Ms. Fitzpatrick is global head of equities, multiasset and the O'Connor hedge fund unit of UBS Asset Management. Her successor will be named later, said an internal memo to company employees from Ulrich Koerner, president of UBS Asset Management, obtained by Pensions & Investments.

“Dawn has led our efforts to leverage our best talent, processes and tools across our investment platform in order to deliver differentiated investment performance for our clients,” Mr. Koerner said in the memo.

Christine Williamson contributed to this story.