According to the publication, the career of Mr Mandella, who was most recently a senior managing director at New York Life Investment Management, includes a 25-year stint at Merrill Lynch, latterly as chief financial officer of Merrill Lynch Investment Managers for the Americas.

Earlier this year Aladdin appointed John Carroll as managing director, global head of securitised products and David Attisani as managing director, broker dealer sales and marketing.

Aladdin is restructuring globally in 2009 to take advantage of what it sees as market opportunities.  The firm has said it is looking to grow by developing its advisory and investment banking businesses, together with its sales and trading and traditional asset management areas, through senior hires and an opportunistic acquisitions strategy.