By Saeed Azhar and Gnaneshwar Rajan (Reuters) -UBS informed investors the co-heads of O'Connor's capital solutions strategy unit, Rodrigo Trelles and Baxter Wasson, had opted not to accept jobs at
UBS O'Connor Co-Heads Decline Positions at Cantor Fitzgerald
UBS O'Connor's Leadership and Strategic Changes
By Saeed Azhar and Gnaneshwar Rajan
Impact of Leadership Decisions
(Reuters) -UBS informed investors the co-heads of O'Connor's capital solutions strategy unit, Rodrigo Trelles and Baxter Wasson, had opted not to accept jobs at brokerage Cantor Fitzgerald, a source familiar with the matter told Reuters on Monday.
Background on UBS O'Connor
UBS O'Connor's Gregory Najarian became portfolio manager with immediate effect, the source said, adding that he will be backed by Jaeho Choi and Joshua Mercado.
Cantor Fitzgerald Acquisition Details
Bloomberg News first reported the events.
The Swiss lender said earlier this month it was winding down investment funds run by O'Connor, after suffering losses due to exposure to bankrupt U.S. auto parts supplier First Brands Group.
The capital solutions unit is part of O'Connor, an established alternatives platform with hedge funds, alternative credits and commodities, according to UBS's website.
Earlier this year, Cantor Fitzgerald had agreed to buy O'Connor from UBS, as it continues streamlining its operations since the merger with Credit Suisse in 2023.
(Reporting by Saeed Azhar and Gnaneshwar Rajan; Editing by Alan Barona)
