BNY Mellon names new global head of PE

Alan Flanagan, who previously led product management for the bank's alternative investments practice, will lead a new unit dedicated to private equity and real estate. 

BNY Mellon appointed Alan Flanagan to the new role of global head of private equity and real estate fund services.  

Flanagan will remain in the firm's Dublin office and report to Frank La Salla, the New York-based chief executive officer of BNY Mellon's alternative investments division, according to a firm statement.

The new fund services unit will oversee over $100 billion in assets under administration and more than 150 employees globally.

Flanagan's previous position will be filled by Robert Chambers, who served as managing director, portfolio manager and member of the operating committee at New York-based Balestra Capital.

Flanagan is on several BNY Mellon executive committees such as the European operating committee and the Asset Servicing global business risk committee, and serves as director of BNY Mellon Trust Company in Ireland. Before joining BNY in 2007, he was at UBS Fund Services (Cayman) Ltd., where he led the Americas business development. He is a Fellow of the Institute of Chartered Accountants in Ireland.

At the of this year's first quarter, BNY Mellon had $28.5 trillion in assets under custody and/or administration, according to the statement, and $1.7 trillion in assets under management. It allocates 4.85 percent, or $230 million, to private equity, according to PEI's Research & Analytics division.