UBPAM Appoints Daniel Kelly as Chief Risk Officer of Alternative Investment

GENEVA--(Business Wire)--
UBP Asset Management (UBPAM), a fund-of-funds management company of Union
Bancaire Privée (UBP), today announced that Daniel Kelly, 43, will join the firm
in New York as Chief Risk Officer of alternative investment, a newly created
position. Mr. Kelly is an 18-year veteran of asset management, 17 of which he
spent at Harvard Management Company, where he was Chief Risk Officer of the
Harvard University endowment since 2005. His appointment marks UBP's fourth
major hire this year as the firm commits to building the industry`s premier
risk-management platform and bolsters its research and investment activities.

"Apart from his broad knowledge in alternative and traditional asset classes,
Daniel has the unique experience of having conducted both in-house risk
management and external manager-risk evaluation throughout his career. UBP will
draw on his well-rounded, multidimensional insights in shaping our risk
management platform," said Matthew Stadtmauer, Chief Executive Officer of UBP
Asset Management. "Daniel's hire demonstrates our devotion to the rigorous and
disciplined management of risk, continually refined in order to benefit our
clients' portfolios."

Mr. Kelly will oversee all aspects of UBP's global risk-management platform,
serve on the firm's Global Investment Committee of alternative investment and
report to Mr. Stadtmauer. He will preside over the investment-risk management
function, which entails analyzing and assessing the underlying risks of the
hedge funds in which UBP invests while managing the portfolio risks of UBP's
funds of funds. UBP recently separated this function from the firm's portfolio
management group, granting it full independence in order to ensure checks and
balances within UBP's investment process.

Mr. Kelly's responsibilities as Chief Risk Officer of the Harvard endowment
included the management, monitoring and assessment of risk of the endowment's
internal and external asset managers. Prior to that, he was a Vice President
with the endowment's risk and analytics department from 1995 to 2005.

Mr. Kelly joins UBP on the heels of three key hires in July and August: Sara
Sprung was appointed Chief Investment Officer of Alternative Investment
following her tenure as Chief Risk Officer of Fortress Investment Group's liquid
markets business; Jonathan Morgan was tapped as Head of Research for alternative
investments after serving as Head of Barclays Global Investors' Hedge Fund
Management Group; and Matt Auriemma, formerly the Head of Operational Due
Diligence for Barclays Wealth, was hired to co-head UBP's Alternative Investment
Structural Risk Analysis division.

"I am excited to join a recognized leader in alternative asset management along
with Sara, Jonathan and Matt," said Daniel Kelly. "At this major crossroads for
the global financial markets, I look forward to working with UBP`s talented team
of professionals as we augment the firm`s risk-management practice and aim to
set new standards for the industry at large."

About UBPAM and UBP

UBP Asset Management (UBPAM) is a fund of funds management company of Union
Bancaire Privée (UBP). UBP is based in Geneva and is one of Switzerland`s
leading private banks. Active in the field of asset management for both private
and institutional clients and with a very solid balance sheet, the Bank had more
than CHF 81 billion (USD 75.5 billion) in assets under management as of 30 June
2009. UBP employs some 1,200 people in some 20 locations worldwide and provides
a complete range of investment products and services, both in traditional and
alternative asset management, with the aim of achieving solid performances and
protecting clients` capital.

Media Information
Union Bancaire Privée (UBP)
Jérôme Koechlin, +41 58 819 26 40
Head of Corporate Communications
jko@ubp.ch

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