The Bank of New York has boosted its hedge fund administration team in London by appointing Linda McLennan to the new role of senior sales manager.
McLennan joins from Bank of Bermuda Global Fund Services where she had worked for 11 years, most recently as head of investor servicing in Bermuda.
Reporting in London to David Aldrich, Head of Securities Industry Banking (Europe), McLennan's remit is to develop and deepen BNY's relationships with single-manager and multi-manager hedge fund providers in Europe.
Aldrich said: "Hedge funds and fund of hedge funds are looking for more sophisticated solutions from their administrators. Linda brings a wealth of hands-on experience in the hedge fund administration sector and an unsurpassed level of understanding client requirements, at a strategic and day-to-day level. Her appointment recognises that alternative investment services (AIS) is a key area of investment for BNY."
BNY's hedge fund administration business was founded in 1994 and was further strengthened with the acquisition of IFA in January 2003.
The Bank of New York employs approximately 4,000 staff in its European headquarters in London, its European processing center in Brussels, its offshore administration affiliates in Luxembourg and Dublin and its eight other offices in Europe.