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.

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