Sunday, 3 May 2015
Last updated 2 days ago
Feb 7 2007 | 1:01pm ET
The turmoil continues at Ivy Asset Management, as the Bank of New York-owned fund of hedge funds will reportedly not pay out year-end bonuses. The firm, with about $15 billion in assets under management, has suffered redemptions of up to $1 billion and a major management shakeup after massive losses resulting from the collapse of portfolio fund Amaranth Advisors.
The trouble—and the payday hit—are causing some Ivy employees to look for greener pastures. At least one portfolio manager has already left, according to HFMWeek, and at least three portfolio managers and analysts have contacted recruiters, seeking an exit from the embattled firm.
Just this week, Ivy named Northstar Financial Services’ Peter Noris its new chief investment officer, replacing Adam Geiger, who left in December.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…