BoNY Fund Of Funds Names New CIO

Ivy Asset Management, the Bank of New York’s fund of hedge funds subsidiary, has named Peter Noris its new chief investment officer.

Noris, who starts at the Jericho, N.Y.-based firm on Feb. 14, replaces Adam Geiger, who left Ivy in December after the firm was burned in the Amaranth Advisors debacle. In the wake of the losses, the $15 billion firm said it expected redemptions of up to $1 billion.

The hiring of Noris is the latest part of a management shakeup at Ivy. In addition to Geiger’s departure, Stuart Davies, then-head of investments for Europe and Asia, was named global head of investments, and research chief Joseph Burns moved to London to succeed Davies.

Noris joins Ivy from Northstar Financial Services, where he served as chief investment officer. Prior to joining Northstar in 2005, he held the same post at Axa Equitable.