Suffice it to say there are neither safe nor, frankly, good jobs at either of the two major Swiss banks these days. That is, with one exception: their internal hedge funds. Everyone else at UBS—which may or may not have any idea what it even is anymore—has to make all manner of human and other flesh sacrifice before bringing in new blood to eventually be sacrificed again in turn, but not UBS O’Connor, unless a couple of Steve Cohen protégés have made a terrible mistake.
UBS Group’s hedge fund business has hired Ken Geren, a former portfolio manager at Steven Cohen’s Point72, as chief investment officer of its newly formed absolute return strategy…. Geren will oversee a team that includes Gary Lisiewski, a managing director for capital markets and trading who also previously worked at Point72.