Third-party alternative investment provider Altegris Investments said it had hired former Bank of New York Mellon Corp. executive Ken McGuire to be its chief operations officer, a new post.

McGuire, who was in charge of single-manager hedge-fund administration in BNY Mellon's Alternative Investment Services unit, is to supervise the growth of Altegris' hedge fund and managed futures platform. It targets broker-dealers and registered investment advisers that want to expand their investment offerings.

In addition to a three-year stint at BNY Mellon that ended last month, McGuire worked for 12 years at Goldman Sachs, ultimately as co-head of back-office operations for the investment bank's multiple-strategy technology and finance portfolio.

Altegris' president and chief executive, Jon Sundt, said bringing in an operations executive with McGuire's caliber and background meshed with his firm's aim to offer a broad platform of alternative managers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.