Larry Morgenthal was named CEO of UBP Asset Management, the U.S. unit of Union Bancaire Privee, effective July 15.
He replaces Matthew Stadtmauer, who is leaving at the end of the month.
Mr. Morgenthal also was named CIO of alternatives for all of UBP, replacing Sara Sprung, who left earlier this month.
Mr. Morgenthal was CEO of Ivy Asset Management. In March, P&I Daily reported Ivy would wind down its operations.
“We have reached a stage in the liquidation process that has resulted in a change to our management structure and staffing," Ivy spokesman Patrick Linehan said. “Such changes were anticipated and are consistent with our plan for the orderly wind-down of Ivy's business operations.”
UBP spokesman Jerome Koechlin said, “This decision reflects the thought that it would make sense to unite these two roles into a single position.”
Mr. Koechlin could not provide additional information on either Mr. Stadtmauer's or Ms. Sprung's departure and plans. Efforts to reach Mr. Stadtmauer and Ms. Spring were unsuccessful.