People News: BlackRock, UBS

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BlackRock hired Harvard Management’s Mark McKenna to start an event-driven hedge fund as the world’s largest asset manager seeks to expand its alternative-investment business.

Bloomberg News reports that McKenna, 43, will be based in New York and lead a new team focused on global events including corporate takeovers, divestitures, and management changes to generate returns, according to a memo dated June 9 provided by the company. He is expected to start a new fund this year and will report to Carl Eifler in hedge-fund strategies.

BlackRock’s Chief Executive Officer Laurence D. Fink, who built the firm through a series of acquisitions, is seeking to expand non-traditional investments by appealing to investors who want returns that aren’t correlated with the stock and bond markets. 

In the meantime, UBS has hired Michael Hafner, a veteran of Deutsche Bank and Morgan Stanley, to head its oil and gas business in Europe.

Bloomberg also reports that previously Hafner was head of energy for the region at Deutsche Bank and has worked on deals involving companies like BP and Total, according to an internal memorandum. A spokesman for UBS confirmed the contents of the memo.

Under investment bank chief executive officer Andrea Orcel, UBS is making targeted additions to its ranks that have included JPMorgan banker Severin Brizay and HSBC's William Barter. 

BlackRock Hires Harvard's McKenna for Event Driven Fund

UBS Hires Deutsche Bank's Hafner for Oil and Gas Role

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