Updated July 8, 2009
Sara Sprung will join hedge funds-of-funds manager UBP Asset Management on July 15 as CIO of alternative investment.
The position is new, said Victor Morales, a spokesman.
She will be responsible for determining the “strategic top-down global asset allocation” for the firm's hedge funds of funds, according to a news release.
Ms. Sprung is a portfolio manager at Fortress Investment Group. Lilly Donohue, Fortress' managing director-investor relations, declined to comment on personnel matters, citing company policy.
Separately, Jonathan Morgan was named head of research of alternative investment at UBP Asset Management, a new position. He joined the firm on Monday.
Mr. Morgan was managing director and head of the hedge fund management group at BGI. He will not be replaced, said Lance Berg, BGI spokesman.
