Kevin G. Russell will join UBS O’Connor on Jan. 1 as managing director and chief investment officer for the firm’s $5.7 billion single- and multistrategy hedge funds.
Mr. Russell will assume the CIO role from Dawn Fitzpatrick who said “Kevin will work closely with me on overall investment strategy for O’Connor,” in an internal memo obtained by Pensions & Investments.
Ms. Fitzpatrick is group managing director and will retain her role as global head of the hedge fund manager, based in Chicago. Mr. Russell will work from the firm’s New York office.
Mr. Russell is coming from Citigroup, where he spent the first 22 years of his career, most recently as managing director and global head of equity trading, said Ms. Fitzpatrick in the staff memo. In his most recent Citigroup role, Mr. Russell had responsibility for all risk and trading across equity, equity derivative and equity financing products globally.
Mr. Russell is “a high caliber, senior professional who brings extensive experience in trading, hedge fund strategies and risk management, as well as strong networks across the asset management and hedge fund industry,” Ms. Fitzpatrick said in the memo.
At Citigroup, global equity trading unit employees who reported to Mr. Russell will remain in their current roles, according to a staff memo from Derek Bandeen, the bank’s global head of equities, obtained by P&I.
Scott Helfman, a spokesman for Citigroup, confirmed the memo’s contents but declined to comment on the bank’s plans to replace Mr. Russell.