Geneva-based private bank Union Bancaire Privée has appointed Larry Morgenthal as chief executive of UBP Asset Management, its US-based fund of funds business, and chief investment officer of alternatives.

Morgenthal was formerly CIO and later CEO of Ivy Asset Management, a wholly-owned subsidiary of the Bank of New York Mellon, and has also held senior positions at Bank of America Alternative Investment Group. In his new role he is charged with spearheading a drive in activity at UBP Asset Management’s fund of hedge funds platform.

Towards the end of last year UBP strengthened risk management at its US-based business with the appointment of Daniel Kelly, a veteran of Harvard Management, as chief risk officer of alternative investment and Matt Auriemma, the former head of operational due diligence at Barclays Wealth, as co-head of structural risk analysis.