Hedge Fund Firm Makes Key Personnel Changes

January 12, 2006 (PLANSPONSOR.com) - Ivy Asset Management announced the appointments of Sean Simon and Michael Singer as co-Presidents, Adam Geiger Chief Investment Officer, and co-founders, Lawrence Simon and Howard Wohl, as Vice Chairmen.

Sean Simon and Singer will be responsible for establishing Ivy’s strategic plan and managing the firm’s business, according to the announcement, and will oversee Ivy’s global client relationship development and servicing and Singer will oversee the finance, compliance, information technology, human resources and administration departments.

Geiger will be in charge of the Global Investment Team and will oversee manager research and selection, portfolio management, operational due diligence and risk management. The company said he will also be responsible for the investment philosophy, portfolio strategy and asset allocation for the firm.

Lawrence Simon and Wohl will serve as strategic advisers to the firm, participating in the development of key firm initiatives and providing mentorship to executives.

Sean Simon joined Ivy in 1996 and was previously Head of Global Client Development for the firm. Prior to joining Ivy, Simon was an Equity Research Associate with Credit Suisse First Boston.

Singer was previously Chief Administrative Officer of Ivy. Singer was formerly a Senior Managing Director at Weiss, Peck & Greer, where he spent nine years before joining Ivy in October 2004.

Geiger joined Ivy in 1997 and was previously Global Head of Investments at the firm. He joined Ivy after spending seven years with Twenty-First Securities Corp., a broker-dealer and money management firm, where he was most recently Vice President of Trading.

Lawrence Simon is the former President and Chief Executive Officer of Ivy Asset Management, which he co-founded with Wohl in 1984. Wohl is the former Chief Investment Officer of Ivy Asset Management.

Ivy Asset Management is a hedge fund of funds and alternative investment management firm with over $14 billion in assets.