UBS Wealth Management Americas plans to grow its alternatives investments platform and has appointed Jerry Pascucci, a former Morgan Stanley Smith Barney executive, to lead the charge as head of alternative investments.

“In our current economic environment, the demand for investment strategies that reduce risk and diversify portfolios - particularly among high net worth clients - has never been greater. To help these clients meet their investment goals, it is critical that we develop a robust alternative investments platform that leverages our best investment and asset allocation advice,” according an internal memo seen by Family Wealth Report. 

“We already have made great strides, recently adding several funds to our offering, and we have established the foundation necessary to build best-in-class platforms to support managed futures, hedge fund, real estate, and private equity investment solutions,” the memo continued.

Pascucci, who starts 7 September, was most recently managing director and chief investment officer for alternative investments at Morgan Stanley Smith Barney. Previously he held senior alternative investment positions at Citigroup, including that of president of its commodity pool operator. In his new role Pascucci will report to Mike Perry, head of wealth management advice and platforms.