BNY Mellon Asset Management of New York has hired Jeffrey B. Saef as director of multistrategy investment solutions.

Mr. Saef, who will be based in Boston and report to Phil Maisano, chief investment strategist, will work with U.S. clients of the Bank of New York Mellon Corp. unit.

Mr. Saef was an executive vice president and director of institutional investment strategies for the Pyramis Global Advisors unit of Fidelity Investments.

He was on Pyramis' executive management team, established its institutional products, and recently managed the development and launch of Pyramis' institutional life-cycle products.

Before joining Pyramis, Mr. Saef was a managing director and the head of investment strategy and research for Putnam Investments' global institutional business.

Bank of New York Mellon, which announced the hiring Monday, had more than $22.4 trillion of assets under custody and administration, about $1.1 trillion of assets under management, and was servicing $12 trillion of outstanding debt as of Sept. 30.

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