Hedge Funds

BNY Brokerage names head of new sales unit

by

BNY Brokerage Inc., a subsidiary of The Bank of New York, has appointed Mark Perdigao as chief of the sales unit recently formed to coordinate distribution of BNY's various hedge fund services. Perdigao previously managed institutional sales for BNY Brokerage. He will report to Anthony Conroy, BNY Brokerage's head trader.

BNY Brokerage's hedge fund offerings include electronic trading tools, commission management and independent research services. In 2005, the firm increased its hedge fund business by 30%.

Carey Pack, president of BNY Brokerage, said in a recent announcement that this new unit will help the firm meet "the specialized needs of this