Ivy Asset Management is denying a published report that it will not pay employees a bonus this year.
“The story that they are not paying out bonuses is false,” said Monica Everett, a spokeswoman for the Bank of New York-owned fund of hedge funds group, which is based in Jericho, N.Y.
“Ivy is indeed paying out bonuses across the board to all its employees as planned,” Sean Pattison, another spokesman, added. “They come through in February and March for Ivy."
Earlier this week, HFMWeek wrote that the firm would withhold year-end bonuses after a difficult year marked by big losses in the Amaranth Advisors collapse, upwards of $1 billion in redemptions and a slew of management changes.