BNY Mellon announced that it has appointed Frank La Salla as chief executive officer of its Alternative Investment Services business.
The global investment firm said in a statement released Monday that in La Salla’s new role, he will be responsible for overseeing a team of more than 2,000 AIS professionals worldwide.
BNY Mellon executive vice president and CEO of asset servicing Samir Pandiri explained that “client demand for alternative investments is growing…[La Salla’s] experience building global businesses will be pivotal as [BNY Mellon] continue to expand AIS's offerings around the world."
La Salla was most recently the managing director at BNY Mellon hedge fund subsidiary Pershing, where he dealt with all of the firm’s business outside of the U.S. and led its global growth strategy.
In addition to his new role, La Salla will remain on the board of Pershing Limited in the U.K. and continue to represent BNY Mellon on the Board of Directors of Euroclear PLC and Euroclear SA.
AIS, which clients include hedge funds, funds of hedge funds and private equity, has more than $645 billion in assets under administration and/or custody.