The Bank of New York Mellon has promoted Brian Ruane to head its $200 billion hedge fund administration unit.

Ruane, currently executive vice president and head of global client management for North America, will serve as the first CEO of BNY Mellon Alternative Investment Services, based in New York. In the newly-created post, Ruane will be responsible for expanding the firm’s global client relationships.

“Brian's experience and leadership will help us continue to grow, build on our strengths, and set new standards for serving clients during this transformational time in the industry," said Art Certosimo, head of broker/dealer and alternative investment services at BNY Mellon, and Ruane’s boss. "BNY Mellon's AIS business has achieved impressive revenue and market share gains the past few years, where others have struggled.”