Wed, 28/09/2005 - 07:11
Ivy Asset Management Corp has strengthened its presence in London by appointing two new senior members of staff - Stuart Davies and Peter Rose.
Davies, who will report to Adam Geiger, Ivy's global head of investments in New York joins the firm as managing director and head of investments for Ivy Asset Management (UK) Limited (Ivy UK), while Rose, who reports to Davies, is director of investments for Ivy UK.
Most recently, Davies was a board director of Coronation International and a member of the investment committee, responsible for the investment of USD 1.2 billion of mainly pension fund assets in hedge fund products. He was the lead portfolio manager for the USD 240 million Coronation Relative Value fund and had joint portfolio management responsibility for the USD 600 million Coronation Global Equity Long/Short fund (winner of the InvestHedge Global Equity Fund of the year-2004).
Prior to that, he worked at Nedcor Investment Bank (a subsidiary of Old Mutual plc), where he was head of the investment team for the USD 700 million of hedge fund of fund assets at Nedcor Investment Bank International. Before joining Ivy, Davies spent six months at Cardinal Asset Management, a start-up hedge fund venture.
Most recently, Rose was head of portfolio strategies and construction at International Asset Management in London. Prior to that, he was head of European hedge fund risk management for Bear Stearns in London, and worked at two hedge funds as well as the UK Financial Services Authority. In his role as director of investments, Rose will serve as head of research for Ivy UK, where he will focus on managers in Europe and Asia.
"The addition of Stuart and Peter to Ivy's investment team represents a major step toward our goal of creating a truly global alternative investment firm," says Geiger. "Their skills and experience provide a strong complement to those of our US-based team and significantly expand our ability to secure high quality offerings for our clients.Together, we will continue to develop and manage world-class hedge fund of funds products for investors worldwide."
Background notes: Ivy was founded in 1984 and has operated as a subsidiary of The Bank of New York Company, Inc. since October 2000. The fund of funds firm manages a wide variety of proprietary and customized hedge fund portfolios designed for US and non-US investors and currently has more than USD 14,5 billion in assets under management. In addition to its headquarters in Jericho, New York, Ivy has offices in London (Ivy UK), Tokyo, New York City and San Francisco.
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