New York (HedgeCo.net) – Hedge fund service provider with more than $350 billion in assets, BNY Mellon Alternative Investment Services (AIS),  has named Alan Flanagan as head of global product management.

“The alternatives industry will see continued progress in 2011 and will look to trusted providers like BNY Mellon to service the array of complex new funds, structures and strategies being introduced,” Brian Ruane, BNY Mellon AIS chief executive officer, said, “In his new role, Alan will only sharpen our ability to deliver timely, innovative products – such as our asset validation-price verification service – that help fund managers satisfy today’s investor audience.

“Alan will lead a global team focused on leveraging and integrating capabilities across our business – from administration and risk reporting to cash and collateral management. New offerings like prime custody and rising demand for middle-office outsourcing will also drive growth in the years ahead,” Ruane added.

Since June, Flanagan has served as interim head of AIS global product management, while continuing in his role managing the group’s private equity administration product set. He also was primary lead for the European integration of the PNC Global Investment Servicing business, acquired by BNY Mellon in July 2010, and has been instrumental in developing plans for the BNY Mellon and GIS banking entities in Ireland and Luxembourg.

Flanagan assumes the role previously held by Rick Stanley, who was named executive vice president of BNY Mellon’s Global Structured Finance Group last June. Flanagan, a member of the Institute of Chartered Accountants in Ireland, joined BNY Mellon in 2008.

Editing by Alex Akesson
For HedgeCo.net
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