Jeff Herlyn and Michael Rosenberg, managing directors and co-heads of the global collateralized debt obligation group at UBS, resigned last week and are joining Polygon Investment Partners, a multi-strategy hedge fund in London. The duo will manage an investment fund that will buy all types of CDOs. Their start date at Polygon is undetermined.
Herlyn, who is based in Stamford, Conn., did not return a call. Rosenberg, who is based in London, declined comment and referred questions to Paddy Dear, an official at Polygon in London. He did not return calls. The story was first reported last Wednesday on BW's Web site (www.bondweek.com).
The departures come just a week after Sal Naro, co-head of credit fixed income at UBS and to whom Herlyn and Rosenberg reported, also resigned from UBS to run a SAC Capital Advisors-seeded credit fund. It is unclear if or how Herlyn and Rosenberg's moves are in any way related to Naro's departure.
Since Naro's departure, Herlyn and Rosenberg have reported to Ramesh Singh, managing director in charge of the global rates business. He declined comment.
