People moves

Morgenthal joins UBP

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Union Bancaire Privée has hired Larry Morgenthal as chief executive officer of UBP Asset Management, the group's US business. He also assumes the role of chief investment officer of alternatives.

Morgenthal will spearhead the renewed activity in the company's fund of hedge funds platform, following the reinforcement of its investment and risk management teams since 2009. UBP, which like Morgenthal's former employer Ivy Asset Management, got stung by investments in Madoff, has been investing in hedge funds since 1972 and offers a full range of capabilities, from tailored recommendations to commingled funds.

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