Ivy Asset Management, the embattled hedge fund of funds is shedding one of its most prized assets as it prepares to close down—Patrick Thomson.

Thomson, its former global head of client development, is heading back to J.P. Morgan Asset Management as its global head of sovereign clients. J.P. Morgan needs a seasoned professional to oversee teams of client advisors around the globe, who manage client relationships on behalf of JP Morgan.

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