Mellon targets alternative investment market

Mellon Global Investments has set up a new team to bring alternative investments to its client base.

Mellon will initially focus on the development of a hedge fund of funds research and management facility. Derek Stewart and Scott Macdonald will be principals in the team that will be based in Mellon's London office.

Stewart and Macdonald were previously director and assistant director of hedge fund management, respectively, at Liberty Ermitage.

Jon Groom, president of Mellon Global

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