BNP Paribas Securities Services, a unit of France’s BNP Paribas Group, has appointed Diarmuid Ryan to the newly created role of global head of hedge fund services.

Based in Dublin, Ryan will be responsible for enhancing relationships with current and new clients in the US, EMEA and APAC markets and providing them tailored strategic end-to-end solutions.

In the new role, he will report to the firm’s global head of alternatives Ian Lynch.

Hedge fund services

Ryan most recently worked at State Street Alternative Investment Solutions, where he spent a decade holding senior executive roles in New York and Ireland.

“As alternative investment strategies become more mainstream and investors continue to seek out absolute returns; operational efficiency and service delivery innovation will become increasingly critical. Our continued growth and investment in this space ensures that we are well positioned to support clients’ operations as they focus on their core growth objectives,” Lynch noted.

BNP Paribas Securities Services offers asset servicing, clearing and custody, market services, as well as corporate trust solutions. The firm’s network is spread out across more than 90 markets.

In June 2018, the firm appointed Diana Senanayake as the new head of its Singapore business.

Like a mutual fund, a hedge fund is a managed, pooled fund that uses different strategies to invest. The fund could invest in stocks, bonds, commodities, or real estate. Unlike a mutual fund, the hedge fund investors must be accredited.