HedgeMark International has named Richard F Brueckner, a Senior Executive Vice President and member of the Executive Committee of BNY Mellon and Chairman of Pershing LLC (Pershing), as non-executive Chairman.
In his role as Chairman, Brueckner will work with the board and HedgeMarkʼs management to establish best practices and ensure proper integration with relevant BNY Mellon and Pershing operating groups.
BNY Mellon, through its Pershing affiliate, is a significant shareholder in HedgeMark, having made an initial non-controlling investment in the firm earlier this year with an option to fully consolidate its ownership over a five-year period.
“HedgeMark has established a leadership role in addressing many of the major issues driving change in todayʼs alternative investing industry,” says Brueckner. “A focus on independent hedge fund governance, integrated with transparency and risk management, is of vital concern to institutional and high net worth investors, as well as regulatory agencies, worldwide. It is a compelling vision and one I look forward to supporting as an ongoing and active member of the board.”
“Richʼs tremendous experience across all segments of our industry has been a great asset to HedgeMark,” says Kenneth S Phillips, chief executive officer and founder of HedgeMark. “We look forward to his increased involvement and leadership as a member of our board.”
