Ned Siegel has left State Street after 22 years to join BNY Mellon as senior sales executive for the private equity and real estate fund services unit in the Americas.
Siegel will report to Marina Lewin, Marina Lewin, global head of new business development for asset servicing and segment head for alternative asset managers.
At State Street, Siegel he held various senior business development and relationship management roles, including positions in private equity and real estate administration.
Lewin said: “We expect the real estate and private equity industry to grow significantly in coming years.”
“The majority of funds in the sector are yet to outsource back office operations, and are increasingly looking to make this step in order to maximise efficiency and provide the high level of service and reporting their clients demand.”
Alan Flanagan, who was recently named global head of private equity and real estate fund services at BNY Mellon, added: “Given the strategic importance of leveraging anchor clients, such as Deutsche Bank, to grow our private equity and real estate fund administration business, Ned’s extensive experience and industry network will be a tremendous asset to the team.”
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