Marilyn Schaja joined Permal Group as senior vice president and head of U.S. distribution channels, confirmed Mary Athridge, a spokeswoman for parent company Legg Mason.
The New York-based position is new and will include product development.
Ms. Schaja was director of client development at Ivy Asset Management. Following losses suffered by Ivy clients in investments with Bernard L. Madoff Securities, executives at parent company BNY Mellon Asset Management decided earlier this year to wind down the company.
Patrick Linehan, a spokesman for Ivy, said the orderly wind-down of the firm’s business operations remains on schedule. Ivy’s operations “are and will continue to be staffed appropriately through the liquidation so that clients receive ongoing support” until that process is complete, he said.
