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UBS Beefs Up Alt Investments for Risk Reduction

Jerry Pascucci, a former Morgan Stanley Smith Barney executive, is joining UBS Wealth Management Americas on September 7 as head of alternative investments, according to an internal memo obtained by Registered Rep.

Until his appointment, UBS had assigned separate managers to oversee its various alternative investment operations.The brokerage unit of Swiss banking giant, UBS AG, is also seeking to meet growing demand for risk-reduction and portfolio diversification strategies, especially among its affluent clients, the memo notes.

"Jerry will be responsible for the strategic direction and management of our Alternative Investments business," according to the memo penned by John Brown, who runs UBS' wealth management solutions, and Mike Perry, head of its wealth management advice and platforms.

The UBS executives added that Pascucci will helm UBS' efforts to grow its total revenues from the alternative investment business in clients' portfolios.

"Jerry has been an industry leader in linking the value of Alternative Investments to a cohesive investment strategy-a key attribute that he will expand upon in his new position," according to the memo.

"Further, Jerry has demonstrated the ability to develop a successful partnership with Financial Advisors to best meet their needs through a combination of education, training, investment solutions and responsive service."

Pascucci, who will report to Perry, is a 20-year industry vet. Most recently, he was managing director and Chief Investment Officer for alternative investments at Morgan Stanley Smith Barney. Before that, Pascucci was at Citigroup, holding senior posts in alternative investments, which included its commodity pool operator unit where he was president.

Brown and Perry, in the memo, note that UBS has recently added several funds in its alternative investments business which covers managed futures, hedge fund, real estate, and private equity investment solutions.

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