BNY Mellon taps industry veteran to head hedge fund services

Peter Salvage will take up role at BNY Mellon following spells at SS&C, Citi and JP Morgan.
By Paul Walsh

BNY Mellon has appointed industry veteran Peter Salvage to the newly created role of global head for hedge fund services.

In his new role, Salvage will be responsible for the long-term strategy of BNY Mellon’s hedge fund services business.

Salvage joins the world’s largest custodian from SS&C Technologies’ hedge fund services where he was managing director based in both London and New York.

Prior to SS&C he served in a variety of roles at Citibank including EMEA head of hedge fund services and global head of single manager hedge fund services.

He was also the founder of Citi’s OTC derivatives and bank loan services.

Before joining Citi, Salvage spent three years at JP Morgan between 2004 and 2007.

In his new role Salvage reports to Chandresh Iyer, CEO of BNY Mellon’s global alternative investment services and structured products business.

“Peter brings extensive experience in hedge fund middle and back-office services, innovation and technology,” said Iyer.

“”His deep knowledge and track record of results delivering business expansion strategies in the space, and his strong emphasis on understanding hedge fund client needs and innovation, will be critical for BNY Mellon in serving our expanding client base of hedge, credit and hybrid private equity funds.”

Iyer took up his role in May following a reshuffle which saw Frank La Salla promoted to lead BNY Mellon’s corporate trust business.