Delaware Investments recruited an international growth equity team from UBS Asset Management, spokeswoman Daniela Palmieri said.
Joseph Devine will join the firm as chief investment officer of the team.
Other members of the team include senior portfolio manager Stephan Maikkula; senior equity analysts Barry Kendall and Thomas Pak; equity analyst James Brandt; and portfolio analyst Jay Su Erickson.
The team specializes in international small-cap, emerging markets and emerging markets small-cap equities and brings approximately $300 million in assets under management to Delaware Investments.
They will be based in San Diego. Mr. Devine will report to Shawn Lytle, president of Delaware Investments.
When asked if the team was replaced at UBS Asset Management, spokesman Gregg Rosenberg e-mailed a statement: “We determined that the global ex-U.S. growth equities team would leave the firm.” He added the firm would “continue to offer emerging markets and small-cap equity capabilities."
Delaware Investments had $165.9 billion in assets under management as of Dec. 31.