Key executives of hedge funds-of-funds manager Ivy Asset Management...

Key executives of hedge funds-of-funds manager Ivy Asset Management agreed to the Bank of New York's extension of their employment contracts through December 2009. BNY acquired Ivy in October 2000, and employment contracts expired in December. Kevin Heine, a spokesman for BNY, said details about the new contracts were not disclosed. Ivy's assets under management as of Dec. 31 were $15 billion, up from $2.4 billion at the time of BNY's acquisition. Affected personnel are Larry Simon, president and CEO; Howard Wohl, vice chairman and CIO; Sean Simon, head of global client development; Adam Geiger, head of investments; Michael Singer, chief administrative officer; Glenn Cummins, CFO; John Rogers, head of investment products group; and Jeffrey Lindenbaum, head of client development, Asia. Messrs. Sean Simon, Geiger and Singer were appointed to a new strategic operating committee that will manage the firm's day-to-day operations.

Mike Clark, executive vice president and head of institutional trust services at JPMorgan Chase, will replace Tom Swayne, executive vice president and head of the firm's investor services business, according to company spokeswoman Judy Miller. Mr. Swayne, who has run the investor services unit since 1999, is retiring after nearly 30 years at the firm, although he has not set a departure date. Mr. Clark will retain his existing position.

Rishin Roy joined hedge fund manager Paloma Partners as director of trading and investment, said Hal Lux, managing director. Mr. Roy replaces Thomas Witz, who left the firm in December. Mr. Witz is reportedly going to start his own hedge fund, but he could not be reached for comment. Mr. Roy was director of risk management at Clinton Group until April 2004, when his duties were assumed by Allan Malz and Amy Lai, said Harlan Simon, a spokesman.

Brandon M. Duck joined the State of Wisconsin Investment Board, Madison, as internal audit director. His duties include reviewing risk management, performance measurement processes and investment policy compliance for the $70 billion fund. He replaces Jim Kaellner, who went to a private company, according to Vicki Hearing, public information officer. EFL assisted in recruiting candidates for the SWIB position. Mr. Duck was audit manager of the University of Texas System Administration, where he was responsible for audits of the University of Texas Investment Management Co., which oversees $17.28 billion in investments for the University of Texas and Texas A&M University systems. A UTIMCO spokesman couldn't be reached for comment about a replacement.