The Bank of New York has strengthened its hedge fund administration team with the appointed of two new members.
Michael Young is to head up hedge fund relationship management while Manzar Ahmed has been appointed as head of hedge fund administration sales in Europe. Both Young and Ahmed report to David Aldrich, managing director, head of securities industry banking, Europe.
Young, who joins from The Bank of New York's Dublin-based joint venture, AIB/BNY, and has previously held posts at Eagle Star Life and JP Morgan Chase, brings a wealth of experience in fund accounting, project management and transfer agency to his new role. His key responsibility is to manage and develop the relationship between the bank and its hedge fund clients in Europe.
Ahmed, who has over ten years experience in sales, fund accounting, performance analytics and consultancy, joins The Bank of New York from Linedata Services Asset Management where he successfully launched the company's compliance software products in the UK. Previously, he has held positions with Lazard Asset Management and Schroders. His primary responsibility will be to develop sales of the bank's hedge fund administration services throughout Europe.
"The bank's European hedge fund clients will benefit enormously from the addition of these senior appointments," says Aldrich. "Both Michael and Manzar bring with them significant experience, and we are confident that their appointments will help contribute to the development and achievement of the Bank's overall business strategies."
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