The new staff members are Elin Toerre, Elizabeth Fitzgibbons, Neil Atkinson, Maura O'Sullivan and David Prestwich.
Ms Fitzgibbons, who has a decade of experience in the industry with Fortis Bank and Investec, will work in the alternative investment services sphere and will be employed as a hedge fund relationship manager, while Ms Toerre will join the hedge fund sales team.
Meanwhile, Mr Atkinson, who joins from EDF Energy, and Ms O'Sullivan, who was with Euroclear as head of corporate actions and product manager, will both be employed in the securities industry banking division.
Mr Prestwich, who was worked for Chase Manhattan and subsequently managed client relationships after the merger with JP Morgan, will work as a relationship manager and will have a remit to seek out opportunities for growth in expanding markets.
Commenting on the new hires, BNY managing director David Aldrich said: "The appointment of five new staff to our team is testament to the rising importance of our securities industry clients in Europe, in both the hedge fund and broker/dealer segments. Each individual brings invaluable experience and additional resource to ensure we deliver a first- class service to our institutional clients."