Ivy Denies Bonus Story, Says All Employees Will Be Paid

Feb 8 2007 | 4:32pm ET

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.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…