Hedge Funds

Press to retire from E&Y hedge fund group


Joel Press, a senior partner and founder of the Ernst & Young hedge fund practice, is retiring at the end of this month.

Press, who was almost a founding father of the U.S. hedge fund industry, started E&Y's hedge fund practice 16 years ago. Since then, the group has grown to over 1,100 employees worldwide and services approximately 40% of the global hedge fund universe.

The firm offers services for a variety of hedge fund strategies, including long/short equity and global fixed-income and derivatives. It also services the fund-of-funds community. Press will be replaced by E&Y colleagues Arthur