HONG KONG (Reuters) - State Street Corp (STT.N) has hired former Bank of America Corp’s (BAC.N) executive Dan McNicholas as head of sales for its alternative investment servicing business in the Asia Pacific region.
McNicholas joined the company on February 6 and will be based in Hong Kong, a State Street spokeswoman confirmed to Reuters.
A prime broking industry veteran, McNicholas had left Bank of America Corp as head of financing sales in the Asia-Pacific region last September.
State Street’s alternatives group provides services such as fund accounting, administration, risk and credit services to institutional investors, hedge funds, private equity and real estate fund managers.
It had about $770 billion under management as of March 31, 2011, according to a statement on its website.
Reporting by Nishant Kumar; Editing by Ken Wills