Alternative investment firm Altegris has appointed Ken McGuire as chief operating officer.

In the newly-created position, McGuire will oversee the growth and development of the Altegris flagship line of alternative investment products, APM Funds.

McGuire joins Altegris from BNY Mellon Alternative Investment Services, where he served as managing director of product management for single manager hedge funds, as part of the team that drove the unit to become the industry's third largest, single manager hedge fund administrator.

McGuire entered the alternative investment industry in 1990 at Goldman Sachs in that firm’s hedge fund strategies group, where he served as co-head of operations, finance and technology. He was also chairman of the operations committee and a member of the management policy committee.

Through its hedge fund and managed futures platform, APM Funds enables broker-dealer representatives and registered investment advisers to expand their investment offerings, bring greater diversification to client portfolios, and improve back-office efficiency through automated processes.

"Our mission is to provide a diverse selection of best-of-breed alternative managers that provide low correlation to traditional asset classes, at lower investment minimums," said Jon Sundt, president and CEO of Altegris Investments.