Soros Fund Management LLC has brought in a veteran hedge fund specialist to serve as its Chief Investment Officer (CIO), installing Dawn Fitzpatrick as the newest member of its team, according to a Wall Street Journal report.
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Ms. Fitzpatrick joins Soros Fund Management with an extensive background in asset management and experience in the financial services industry. The CIO role at Soros Fund Management has seen some of the highest turnover of any senior role at the group, with seven individuals serving in the position since 2000.
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Ms. Fitzpatrick comes over to Soros from UBS Asset Management, having worked as its Global Head of Equities, Multi-Asset and the O’Connor hedge-fund business. At UBS, she was tasked with the oversight of over $300 billion in assets.
George Soros has been more involved with trading at the group since last year, which is now responsible for over $30 billion. Soros recently lost upwards of a billion dollars after the recent US election this past November, betting the wrong way after a surprise Trump victory.
Soros Fund Management gained nearly 5% YoY, despite sizable losses incurred with the election.