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UBS’s Meyer Joins ACT Currency Partner for Structured Products

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Oct. 30 (Bloomberg) -- Andre Meyer joined ACT Currency Partner AG to run its foreign exchange structured products operations as the Swiss currency and precious metals fund manager expands its business for wealthy investors.

Meyer is responsible for originating and distributing currency-linked derivatives and structured products, he wrote in an e-mailed response to questions. He was hired from UBS AG, where he was managing director of the foreign exchange and precious metals structured products unit.

Meyer is the seventh person to be hired by the Zurich-based company this year, joining former Citigroup Inc. bankers Thomas Walcher and Patrick Haberstock, who previously advised wealthy investors at the U.S. bank, according to ACT’s website. ACT was founded in 1992 by Felix Adam, a former foreign exchange banker at JPMorgan Chase & Co. and Citigroup.

Structured notes package debt with derivatives to offer customized bets to investors while earning fees and raising money. Buyers of the securities, which include institutional investors as well as individuals, bear the risk both of the bank selling the securities and of the underlying assets.

To contact the reporter on this story: Alastair Marsh in London at amarsh25@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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