UBS announced Tuesday it hired Jerry Pascucci as head of alternative investments.

Pascucci, who will report to Mike Perry, the head of the wealth management advice platform, is set to start his new position on Sept. 7. He will be responsible for the strategic direction and management of the firm’s alternative investments business. Additionally, he will lead its efforts to expand and enhance this division’s asset class within client portfolios while growing the total revenues and assets of this business, according to an internal memo from the company.

Most recently, the financial industry veteran was a managing director and chief investment officer for alternative investments at Morgan Stanley Smith Barney where he oversaw all relevant portfolios.

Before that, he was president of Citigroup’s commodity pool operator.

Pascucci brings close to twenty years of expertise to UBS. During this time, he has developed a string of successful partnerships with financial advisors by providing education, training, investment solutions and responsive service to these employees, the company said.

For UBS, this new hire is part of an ongoing campaign tdesigned to meet the rising demand for investment strategies that reduce risks and diversify portfolios among high-net-worth clients.


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