Bank of New York Buys Ivy
October 9, 2000
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.