BNY Mellon, provider of investment management and investment services, has appointed Alan Flanagan to the newly created role of global head of private equity and real estate fund services.
Flanagan will continue to be based in Dublin and will report to Frank La Salla, chief executive officer of BNY Mellon’s alternative investment services business in New York.
“We’re seeing vibrant growth opportunities in this space as investors pursue new strategies and increase allocations to private equity and real estate,” says La Salla.
As a new unit within the alternative investment services business, private equity and real estate fund services will comprise more than $100 billion (€89 billion) in assets under administration and over 150 employees worldwide. Flanagan will be responsible for overseeing global business and driving growth.
Flanagan serves on a number of executive committees at BNY Mellon, including its European operating committee, the asset servicing global business risk committee, and is a director of BNY Mellon Trust Company (Ireland).
He joined BNY Mellon in 2007 from UBS Fund Services (Cayman), where he was head of business development in the Americas. Most recently, Flanagan was global head of product management for alternative investment services.
Robert Chambers will succeed Flanagan in this role, joining BNY Mellon from investment management firm Balestra Capital where he was managing director, portfolio manager, and member of the operating committee.
As of March 31, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management.
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