Funds of Hedge Funds Mergers & Acquisitions / Joint Ventures People Moves

BNY Mellon to align its boutiques as Ivy's Simon steps down

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Sean Simon, chief executive officer of Ivy Asset Management, a firm founded by his father Larry Simon and Howard Wohl, is stepping down from this role to pursue other interests after transitioning out of the business. Following a year that saw most funds of funds crippled by asset out flows, BNY Mellon Asset Management is aligning its three fund of hedge funds boutiques under Phil Maisano, head of alternative investments.

For now the three brands with assets totaling $8 billion, Mellon Global Alternative Investments (MGAI), Ivy Asset Management and EACM Advisors, will retain their individual brands. In the short