Amaranth Losses Oust BONY Hedge Fund Guy

Author:
Publish date:

The New York Post's Roddy Boyd reports that Amaranth has claimed another victim, BONY's Ivy Asset Management's Adam Geiger:

The chief investment officer of hedge fund outfit Ivy Asset Management, who led the firm into its ill-fated position in Amaranth Advisors, stepped down yesterday.
Ivy, a unit of Bank of New York, lost about $50 million when Amaranth, a former high-flying hedge fund based in Greenwich, Conn., lost over $6.5 billion when one of its traders made a series of disastrous natural gas bets.
One of Ivy's customers invested in the busted fund was the $73 billion New Jersey state pension fund.
Adam Geiger, who took over the reins of Ivy's $16 billion portfolio of hedge fund investments less than a year ago, left the fund

Amaranth Tainted Ivy Boss Resigns [New York Post]

Related