Union Bancaire Privee (UBP): How to deal with uncooperative hedge fund managers

Geneva based Union Bancaire Privee (UBP) is the leading family-owned asset-management bank in the world by client deposits. In December 2008, UBP had $56bn allocated to hedge funds. That month, the bank informed all managers to put in immediate redemptions for any fund that does not have independent administrators and custodians.

In this new Opalesque.TV BACKSTAGE interview, Larry Morgenthal, CEO and Chief Investment Officer of Alternatives at UBP Asset Management speaks how hedge funds embraced the increased due diligence demands from institutions, and how the bank dealt with uncooperative hedge fund managers.

In addition, the interview covers:

* Roots and History of UBP

* Why do hedge funds have such a prominent role within UBP's asset allocation?

* How have hedge funds changed over the last 15 years?

* How continued inflows from pensions will split industry into institutional and boutique hedge funds: How can hedge funds best prepare for the coming, large pension inflows?

* What can pensions do to better understand and use hedge funds?

Mr Morgenthal has 18 years of direct involvement in alternative investing and business development, having started his career managing the assets for two large US pension funds, NCR Corporation and Asea Brown Boveri (ABB). He has held senior positions in Bank of America's Alternative Investment Group, where he headed the overall business and chaired the investment committee, as well as at Opus Capital Group, where he was managing partner, and Ivy Asset Management (BNY Mellon), where he held the roles of COO and later CEO.

UBP Asset Management is UBP's U.S.-based business unit. UBP's predecessor company, Compagnie de Banque et d'Investissements (CBI), was set up by Edgar de Picciotto in 1969. From the end of the 1970s, Mr de Picciotto advocated the integration of hedge funds in the management of clients' assets. CBI undertook seven acquisitions, the largest being TDB-American Express Bank in 1990 which led to the creation of the current entity, Union Bancaire Privee (UBP).
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Geneva based Union Bancaire Privee (UBP) is the leading family-owned asset-management bank in the world by client deposits. In December 2008, UBP had $56bn allocated to hedge funds. That month, the bank informed all managers to put in immediate redemptions for any fund that does not have independent administrators and custodians.

In this new Opalesque.TV BACKSTAGE interview, Larry Morgenthal, CEO and Chief Investment Officer of Alternatives at UBP Asset Management speaks how hedge funds embraced the increased due diligence demands f ...more