Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Bank of New York Buys Ivy

The Bank of New York has completed the acquisition of Ivy Asset Management of Garden City, NY., the bank announced last week. The terms of the deal have not been disclosed.

The Bank of New York acquired Ivy, which offers clients hedge fund products and advisory services, in an effort to add "product capability in alternative investments to the bank's products mix," said Newton P.S. Merrill, senior executive vice president of the Bank of New York.