Published by Global Banking and Finance Review
Posted on November 18, 2025
1 min readLast updated: January 21, 2026
UBS O'Connor's co-heads declined Cantor Fitzgerald roles, leading to leadership changes as UBS winds down funds after losses.
By Saeed Azhar and Gnaneshwar Rajan
(Reuters) -UBS informed investors the co-heads of O'Connor's capital solutions strategy unit, Rodrigo Trelles and Baxter Wasson, had opted not to accept jobs at brokerage Cantor Fitzgerald, a source familiar with the matter told Reuters on Monday.
UBS O'Connor's Gregory Najarian became portfolio manager with immediate effect, the source said, adding that he will be backed by Jaeho Choi and Joshua Mercado.
Bloomberg News first reported the events.
The Swiss lender said earlier this month it was winding down investment funds run by O'Connor, after suffering losses due to exposure to bankrupt U.S. auto parts supplier First Brands Group.
The capital solutions unit is part of O'Connor, an established alternatives platform with hedge funds, alternative credits and commodities, according to UBS's website.
Earlier this year, Cantor Fitzgerald had agreed to buy O'Connor from UBS, as it continues streamlining its operations since the merger with Credit Suisse in 2023.
(Reporting by Saeed Azhar and Gnaneshwar Rajan; Editing by Alan Barona)
A hedge fund is an investment fund that employs various strategies to earn active returns for its investors. Hedge funds can invest in a wide range of assets and often use leverage and derivatives.
Investment funds pool money from multiple investors to purchase a diversified portfolio of assets. They can include mutual funds, hedge funds, and exchange-traded funds (ETFs), providing investors with professional management.
Corporate strategy refers to the overarching plan and direction that a company takes to achieve its long-term goals. It encompasses decisions about resource allocation, market positioning, and competitive advantage.
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