Hedge Funds

Ivy Asset Management extends contracts for top execs

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The Bank of New York announced it has signed new contracts that will keep the executives of its $15 billion fund of funds subsidiary Ivy Asset Management around for four more years.

Larry Simon, Ivy's president and chief executive, and Howard Wohl, chief investment officer, will continue in their current roles. The agreements are an extension of contracts in place since the Bank of New York acquired Ivy in 2000. The contracts, beginning in January 2005, will extend through to December 2009, with automatic renewals in place thereafter. Adam Gieger, Ivy's head of investments, Sean Simon, head of global