Macquarie hires UBS asset management team
Macquarie Group Ltd. hired a former UBS Group AG asset-management team to focus on emerging-markets equities at the bank's Delaware Investments unit in the U.S.
The group is led by Joseph Devine, who will report to President Shawn Lytle and be based in San Diego, according to a statement Tuesday from Delaware. The team includes senior portfolio manager Stephan Maikkula along with Barry Kendall, Thomas Pak and James Brandt and Jay Su Erickson, according to the statement.
"This team is a strong fit with our multi-boutique platform and plays an important role in meeting the needs of clients seeking more global exposure and active management in inefficient markets," Lytle said in the statement. "We are proud to add this distinguished team and its long-term track records to the firm."