Ivy Asset Management, a global fund of hedge funds subsidiary of BNY Mellon Asset Management, has appointed Robert Murphy as director of its investment strategies group.

Working with the boutique firm’s global investment team, Mr Murphy’s responsibilities will include elements of investment research, product development and portfolio management processes.

Mr Murphy is to be based at Ivy Asset Management’s New York office, reporting to Sean Cumiskey, managing director and head of the firm’s investment strategies group.

"Bob Murphy is an outstanding individual and brings to Ivy a unique blend of financial markets and hedge fund investing experience," said Mr Cumiskey. "He will play an important role as Ivy helps clients navigate through these historically challenging market conditions."

Prior to joining Ivy, Mr Murphy worked at Meridian Capital Partners, where he was a partner and a member of the firm’s portfolio management group.  He has also previously held senior fixed income investment banking posts at AG Edwards, Cowen, Donaldson, Lufkin & Jenrette and Bear Stearns.

Founded in 1984, Ivy Asset Management provides investment management and client services from offices in New York, San Francisco, London, Honk Kong and Tokyo, and has approximately $11 billion in assets under management.  Bank of New York Mellon is a global financial services company which operates across 34 countries and has $1.1 trillion in assets under management.