Adam Geiger is President and Chief Investment Officer of the New Legacy group of companies. Founded in late 2007, Mr. Geiger joined with family office veteran Joseph Weilgus to form New Legacy, a multi- disciplinary investment firm whose mission is to develop innovative financial products and services for ultra high net worth families, foundations, endowments and other institutions. New Legacy uses the combined expertise and experience of its principals to build unique programs that incorporate traditional, alternative or hybrid investment styles in highly efficient ways.
Before co-founding New Legacy, Mr. Geiger was the Chief Investment Officer of Ivy Asset Management Corp. Mr. Geiger joined Ivy in July 1997, as its Director of Research. Ivy, founded in 1984, was a leading firm in the hedge fund of funds business, with over $500 million in assets under management at the time. Mr. Geiger and his small staff identified the best new investment opportunities while covering the most sophisticated hedge fund managers in Ivy’s lineup. During this period Mr. Geiger was also given portfolio management responsibility for two of the firm’s core products, the Rosewood and Seedling families of funds. In August 2001, Mr. Geiger was promoted to Global Head of Investments, the number two ranking position in the Investments group. At this point, Ivy was managing over $3 billion and had built its investments staff to more than a dozen people. In this capacity, Mr. Geiger was responsible for managing the day to day business of the Investments group. This included manager sourcing, research and due diligence, ongoing monitoring and portfolio management.
In June 2004, Mr. Geiger was named to Ivy’s Strategic Operating Committee, a group of three senior professionals who were chosen to be the next generation of Ivy’s senior leadership, as the firm’s founders started to transition away from day to day involvement in the business. In January 2006, Mr. Geiger was officially promoted to Chief Investment Officer of Ivy. During Mr. Geiger’s tenure, Ivy’s investments staff grew from about one dozen people in one office to over 45 people in five offices around the world, while assets under management grew to more than $16 billion.
Prior to joining Ivy, Mr. Geiger was co-head of the trading desk at Twenty-First Securities Corp. in New York. After joining in April, 1990, he was initially responsible for managing a dividend capture strategy. Within six months Mr. Geiger turned his focus to a joint venture with Houlihan, Lokey Howard and Zukin (later Helix Capital Management) known as Safe Harbor Capital Management. Safe Harbor utilized an early form of capital structure arbitrage to generate consistent, non-correlated returns by identifying high yield bonds that were cheap relative to the associated equity. Mr. Geiger was responsible for managing the equity hedge component of the portfolio. He also developed two convertible arbitrage strategies for Twenty-First. Mr. Geiger also managed various tax-advantaged strategies, including shorting non-interest accruing bonds in front of coupon payment dates and a short against the box strategy that allowed clients to defer taxes on low basis stock for an indefinite period.
Mr. Geiger began his career in December 1982 at Merrill Lynch in New York City as “Computer Support Specialist.” Mr. Geiger modernized the local computing capabilities of Merrill’s flagship retail office. Within two years, Mr. Geiger had been retained by the office’s top producer to focus solely on building and supporting his business. Over the next five years, Mr. Geiger developed and executed several sophisticated market-neutral investment strategies for institutional clients. Included among these were equity dividend capture strategies, index arbitrage and options arbitrage.
Mr. Geiger holds a Bachelor of Science in Economics, cum laude, from the State University of New York at Albany and has been a Chartered Financial Analyst and member of the CFA Institute and New York Society of Securities Analysts since 1994. Mr. Geiger currently sits on the board of trustees of Middlebridge School in Narragansett, RI. Mr. Geiger resides in Dix Hills, NY with his wife of 26 years and two daughters.