EUROPE – Deutsche Bank says it has hired a marketing executive from UBS as head of European distribution for its Deutsche Asset Management arm’s absolute return strategies unit.

Deutsche said Timothy Sweeting would join the unit, which is its global hedge fund management unit. It said: “Sweeting joins DeAM from UBS O'Connor, where he was head of European and Middle East sales and marketing.”

Based in London, Sweeting will report to Mark Bolton, head of Europe and Asia Pacific for DB Absolute Return Strategies. Sweeting will be responsible for distributing fund of hedge funds and single manager hedge funds.

Deutsche said Sweeting had a similar role at UBS O'Connor.

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