Ivy Opens Office in Hong Kong

The office will be headed by Alex Balfour, Managing Director, Head of Client Development, Asia ex-Japan, who joined the Firm in November 2007 from Union Bancaire Privee (UBP).

TheHong Kong office is Ivy's sixth location globally. The Firm opened itsTokyo office in 2004 and established full-scale operations inLondon in 2003. In the U.S., Ivy offices are located inSan Francisco, California,New York City, and its headquarters in Jericho, New York.

Ivy's new office will provide hedge fund and customized services to institutional and high net worth investors across the Asia Pacific region. Over time, the team will include research professionals, client service managers and operations staff.

"With over 40% of the firm's assets outside of the U.S., we have seen our international business grow dramatically over recent years," said Patrick Thomson, Managing Director, Head of Client Development, EMEA and Asia. "We expect Asia to represent a key source of business growth for us in the years to come. We are delighted that Ivy is now an active member of this dynamic financial services market."

"Ivy's growth strategy will increasingly leverage the expansion of alternative assets outside the U.S.," said Sean Simon, Co-President of Ivy. "The Asian markets are a critical component of our long-term success. Clients inEurope andJapan are already benefiting from our investment in talent and resources in those regions and we are confident that Alex's initiatives will enhance our presence and expand our business across Asia Pacific markets."

About Ivy Asset Management Corp.

Ivy Asset Management Corp. provides investment management and client services in the major financial markets around the world with over 170 employees in New York,San Francisco,London andTokyo. Founded in 1984 and one of BNY Mellon Asset Management's specialist asset managers, Ivy offers a wide range of risk-adjusted, performance-driven multi-manager products from diversified proprietary fund portfolios to customized programs for a full range of global institutional investors. Ivy Asset Management Corp. is registered as an Investment Adviser with the SEC and an Investment Manager with the Irish Financial Services Regulatory Authority. Ivy Asset Management Corp.,Tokyo Branch ("IvyTokyo") is registered with the Kanto Local Financial Bureau to act as a Financial Instruments Intermediary Company under the Financial Instruments and Exchange Law ofJapan for The Bank of New York Securities CompanyJapan Ltd. ("BNYSJ") as its sponsoring Financial Instruments dealer, and, pursuant to such registration permitted to engage in limited sales solicitation in respect of securities for which BNYSJ is the authorized distributor inJapan. Ivy Asset Management (UK), Ltd. is authorized and regulated by the UK Financial Services Authority. Additionally, Ivy Asset Management (HK), Ltd. is regulated by the Securities & Futures Commission. For more information about Ivy Asset Management Corp., please visit www.ivyasset.com.

BNY Mellon Asset Management is one of the world's largest global asset managers with more than US$1 trillion in assets under management. The multi- boutique asset management model encompasses the investment skills of world class specialist asset managers who are amongst the most advanced and highly regarded names in money management. With investment expertise that spans the asset class spectrum, BNY Mellon Asset Management offers a comprehensive suite of beta-achieving and alpha-generating investment strategies to meet the unique needs of institutional investors.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com.

SOURCE Ivy Asset Management Corp.

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Tags: Banking and Finance, , new york

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