Brian Singer, formerly Americas CIO and head of global investment solutions at UBS Global Asset Management, has started an investment management firm, Reuters reports. Singer Partners will initially manage around $1 billion, which is expected to grow to $15 billion over time.

Singer will be a partner and CIO at the new firm, which will serve institutional, ultra-high-net-worth and sovereign wealth investors. Edwin Denson, ex-UBS asset allocation head and Thomas Clarke, previously currency analysis and strategy head at UBS, will join the new firm as partners.

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