A new leadership transition is unfolding at UBS O’Connor, as the firm informed investors that Rodrigo Trelles and Baxter Wasson, co-heads of the capital solutions strategy unit, have chosen not to accept positions at Cantor Fitzgerald, according to sources cited by Reuters.
In response, Gregory Najarian has been appointed portfolio manager effective immediately, supported by Jaeho Choi and Joshua Mercado, marking a rapid and strategic reshuffling within the unit. Bloomberg first reported the developments.
The update comes amid a broader restructuring at UBS O’Connor. Earlier this month, the Swiss lender announced plans to wind down several investment funds after incurring losses tied to exposure to First Brands Group, a U.S. auto parts supplier that filed for bankruptcy.
The capital solutions team sits within O’Connor—UBS’s long-standing alternatives platform spanning hedge funds, alternative credit, and commodities. The unit has been under heightened attention since Cantor Fitzgerald agreed earlier this year to acquire O’Connor from UBS, part of UBS’s ongoing operational streamlining following its 2023 merger with Credit Suisse.
As the acquisition progresses and leadership realigns, market participants will be watching closely to see how the transition reshapes O’Connor’s strategy and performance within the rapidly evolving alternative investment landscape.