In Brief: Bank of N.Y. Hires 2 for London Hedge Unit

Ivy Asset Management, Bank of New York's hedge fund arm, announced two hires Tuesday meant to beef up its London operation, Ivy Asset Management UK.

Stuart Davies will run the office and be its head of investments and a managing director; he will report to Adam Geiger, Ivy's U.S.-based global head of investments. Peter Rose was hired as the London operation's director of investments.

Ivy was founded in 1984; Bank of New York bought it in 2000. The unit has $14.5 billion of assets under management; its other offices are in New York City; Jericho, N.Y.; San Francisco; and Tokyo.