(Bloomberg) -- UBS AG is starting a unit aimed at quantitative hedge funds that combines prime brokerage and services from its direct execution trading business.

Scott Stickler in New York will be global head of the operation, called UBS Quant HQ. Strategies across equities, options and futures will be supported with fixed income and foreign exchange to be added later, he said. The business targets startups and established funds with long-short or hedged strategies and those focused on arbitrage.

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