Saturday, 28 May 2016
Last updated 6 hours ago
Aug 11 2010 | 10:16am ET
With his old employer not long for this world, Ivy Asset Management’s Patrick Thomsen is trading the fund of hedge funds world for a bank job.
Thomsen, who had been global head of client development at Ivy, was named global head of sovereign clients at JPMorgan Chase. He will be based in London.
“Patrick’s international experience in alternative and traditional asset management and extensive industry relationships will bolster JPMorgan Asset Management’s growth in the sovereign investment sector,” Mary Erdoes, head of asset management, said in an internal memo.
It is Thomsen’s second go-around with JPMorgan Asset Management, where he worked from 1996 until 2005.
Thomsen will not be replaced at Ivy, which is being closed at any rate. The Bank of New York Mellon, which owns the troubled fund of funds shop, is restructuring its fund of funds businesses, winding down Ivy and merging its other two.