BNY Mellon recruits for alternative investment team
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BNY Mellon recruits for alternative investment team 21 July 2017 New York Reporter: Jenna Lomax
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BNY Mellon has made two senior appointments to its alternative investment services (AIS) team.
Jamie Gleeson as head of relationship management for alternative investment services.
Gleeson has joined from State Street, where he was managing director. He has been recruited to help with BNY Mellon’s expanding client base in the alternatives space.
Edwin Parker has also joined the team, taking over as director of business development for private equity, real estate and debt for Europe, the Middle East and Africa. Parker was most recently head of the AIS team at Northern Trust.
BNY Mellon has increased its involvement in real estate and private equity following an increase in demand.
Earlier this year, the bank announced its plans to provide fund administration services for PGIM Real Estate - a subsidiary of Prudential Financial.
In 2015, BNY Mellon signed an agreement with Deutsche Asset and Wealth Management to become its outsourced provider of direct real estate. The inclusion of Gleeson and Parker will help BNY Mellon to grow even further.
Gleeson said: “BNY Mellon already has a very strong market position in the alternative investments arena and is well placed to grow even further. A large part of my role will be working with our clients to help them navigate this new landscape.”
Parker commented: “It is exciting to join BNY Mellon when it’s positioning itself actively to be the strategic asset serving partner of choice for investment firms in this space. I look forward to working as part of the wider AIS team to develop our capabilities and our client base in this market.”
Last week, BNY Mellon announced it has also appointed Charles Scharf as new CEO and director, effective immediately. Sharf is also set to become chairman of the board from January 2018.
The appointments follow a successful Q2 for the bank. It saw record figures of assets under custody and administration, reaching $31.1 trillion, and record assets under management of $1.77 trillion.
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