UBS Targets Asian Hedge Fund Market, Names New Head

Vanessa Doctor

9 September 2010

UBS AG has named Stephen Pak to head its hedge fund business in Asia.

Pak, who becomes head of regional capital introduction for the prime brokerage division, used to work in the alternative investments division at Credit Suisse. At UBS, he reports to Ashley Jarvis, the global head of business and capital consultancy of the same unit.

Investors have been looking into alternative asset classes after the 2008 financial crisis proved destructive to many interest rate linked banking investments. Recent figures from Hedge Fund Research show that the Asian hedge fund sector saw over $360 million in fresh inflows in the second quarter after bringing in $700 million in the first quarter.

UBS said it is working to gain a bigger share of this market by enabling closer links between its business and hedge fund capital consulting divisions to cater to evolving investment appetites.