Money Management

Ivy Distributors chooses new president

Amy Scupham was named president of Ivy Distributors, the company announced Wednesday.

Ms. Scupham replaces Nikki F. Newton, who will remain with the firm through May 15 to assist in the transition. A spokesman at Ivy wouldn't comment on Mr. Newton's plans.

Ms. Scupham will oversee institutional and retail distribution of Ivy Funds mutual funds and investments managed by Ivy Investment Management, a subsidiary of Waddell & Reed Financial.

Ms. Scupham was chief operating officer at Ivy Distributors. She was replaced by Kirby DeMoss, who was senior vice president, head of sales operations and business development. Officials at Ivy Distributors have not decided whether to fill that position, the spokesman said.

Ivy Investment Management and Ivy Funds had a combined $80 billion in assets under management as of March 31, including $6 billion in institutional assets, the spokesman said.