UBS Asset Management created a new unit, UBS OConnor LLC, to offer hedge fund-type global alternative investment strategies to pension funds and other investors. It will be based in Chicago but operate separately from Brinson Partners Inc., UBS Asset Managements traditional portfolio investment unit.
Joseph F. Scoby is managing director, CEO, and chief investment officer of UBS OConnor. He will report to Peter A. Wuffli, CEO, UBS Asset Management. J. Gary Fencik, managing director of Brinson Partners, who has been its head of business development and marketing, will move over to UBS OConnor, becoming one of its two U.S. marketers, although he wont head marketing.