The Bank of New York says that Ivy Asset Management Corp., the US-based fund of funds firm with more than $15 billion in assets under management, has strengthened its presence in London by hiring Patrick Thomson to lead its European client effort. Thomson joins Ivy from JP Morgan Asset Management.
Most recently, Thomson, who was based in Singapore, served as Managing Director and Head of JP Morgan Asset Management’s Sovereign business. Thomson will relocate to Ivy’s London office and become Managing Director with overall responsibility for Ivy’s European client business. Thomson reports to Sean Simon, a member of Ivy’s Strategic Operating Committee and Head of Ivy’s Global Client Development.
“We are pleased and excited to have someone of Patrick’s calibre join our London operation,” says Simon. “Today approximately 20% of Ivy’s assets are from Europe and we expect Patrick’s broad experience and knowledge to position us extremely well in the future as European institutions continue their push towards hedge fund investing.”
Thomson says Ivy has had” tremendous success” in the U.S. and that he is looking forward to “coordinating the firm’s future opportunities for development and growth in Europe.”
Ivy was founded in 1984 and has operated as a subsidiary of The Bank of New York Company, Inc. since October 2000. The firm manages a variety of proprietary and customized hedge fund portfolios designed for U.S. and non-U.S. investors. In addition to its headquarters in Garden City, New York, Ivy has offices in London, Tokyo, New York City and San Francisco. BNY Asset Management now has more than $100 billion in assets under management.