Mellon eyes alternative investments

Mellon Global Investments has set up a 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 head up the team, which 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 Investments, said: "With thousands of hedge funds, sophisticated investors are turning to disciplined, risk-controll...