BNY Mellon Wealth Management has named Ted Berenblum to serve as head of alternative investments. Berenblum joins the firm from Citigroup, where he was a managing director and head of ultra-high net worth investments for its Global Wealth Management division.

In his new role at BNY Mellon, which he’ll assume in September, Berenblum will be based in New York and report to Leo Grohowski, chief investment officer of the firm’s wealth management arm.

Berenblum will lead the expansion of the firm’s alternative investments to private clients, overseeing private equity and real estate offerings, commodities including timber and natural resources, infrastructure, currency and portable alpha strategies.

"Ted has spent his more than 25-year career largely focused on the investment needs of private investors,” said Grohowski. “His expertise and technical competence in offering both traditional and alternative products to the largest and most sophisticated clients will be important strengths for us as we continue to grow our business and enhance and extend our investment capabilities."

Bank of New York Mellon's advisory firms, banks and trust companies currently manage approximately $69 billion in alternative investments.