ZURICH, Oct 29 (Reuters) - UBS is moving ahead

with the sale of its hedge fund unit O'Connor to U.S. brokerage

firm Cantor Fitzgerald, the bank's CFO Todd Tuckner said on

Wednesday.

Tuckner was speaking after it emerged that some UBS

investment funds were exposed to the debt of bankrupt U.S. auto

parts supplier First Brands. That included at least one managed

by O'Connor.

Tuckner said UBS has no balance sheet exposure to First

Brands.