MONEY MANAGEMENT

BNY Mellon appoints new CEO of alternative investment services

Chandresh Iyer was named CEO of BNY Mellon's alternative investment services and structured products, effective May 23, said Frank Pinto, BNY Mellon spokesman.

He replaces Frank La Salla, who was named CEO of Bank of New York Mellon (BK)'s corporate trust business. Mr. Iyer will report to Samir Pandiri, executive vice president and CEO of BNY Mellon asset servicing.

Mr. Iyer was managing director and global head of BNY Mellon middle office solutions. BNY Mellon is evaluating candidates to replace Mr. Iyer, Mr. Pinto said.

BNY Mellon's alternative investment services and structured products business provides administration of hedge funds, private equity, real estate and exchange-traded funds. It had $775 billion in assets under administration as of Dec. 31, according to eVestment.

Mr. La Salla is replacing Eric Kamback, who is retiring.