BNY Mellon has appointed a new chief executive of its Alternatives Investment Services (AIS), after promoting its current head Frank La Salla to lead its corporate trust business.
Chandresh Iyer, the custodian’s previous global head of middle office solutions group, will succeed La Salla to lead the fund services and structured products business, reporting to Samir Pandiri, CEO of asset servicing.
As CEO of AIS and structured products, Iyer will lead BNY Mellon’s push into real estate administration and ETF services, while also extending middle-office solutions to its hedge fund administration clients.
"Chandresh brings an extensive asset and alternative servicing background to the AIS team, having spearheaded significant improvements to our asset manager, asset owner and hedge fund middle office solutions business," said Pandiri.
Iyer joined BNY Mellon in 2015 from Citi’s investor services business. Prior to that, he was at Merrill Lynch where he supported the institutional equity technology unit.
Meanwhile La Salla will succeed Eric Kamback, who is retiring after 36 years with the company.
“Under Frank's leadership, we have made strategic platform investments in the real estate fund administration, exchange traded fund (ETF) services, and hedge fund administration businesses, strengthening our client value proposition and enhancing our growth potential,” said Brian Shea, CEO of BNY Mellon Investment Services.
"His [La Salla’s] international experience and industry knowledge will be instrumental in serving our clients well and positioning the Corporate Trust business for the next phase of its growth.”