Mortimer To Oversee Hedge-Fund Relationships At UBS (UBS)

UBS AG (NYSE: UBS) has hired Patrick Mortimer, a former Morgan Stanley (NYSE: MS) US prime-brokerage head, to oversee hedge-fund relationships.

Patrick will join as a senior relationship manager in the bank’s prime brokerage unit, the unit that loans securities and cash to hedge funds. Mortimer will report to Stuart Hendel, his former boss at Morgan Stanley.