Twenty accounting positions are being made redundant at Bank of New York Mellon’s Bermuda office, with employees being notified this week.The news out of BNY Mellon Alternative Investment Services, a hedge fund administrator located on Front Street, is the latest in a string of industry closures and lay offs.The 20 positions represent a large portion of the staff count, with 39 employees remaining in Bermuda.According to a bank spokesperson, Bank of New York Mellon acquired PNC Bank’s global investment services business in July of 2010 and as a result “accounting functions have been consolidated” to their Orlando, Florida office.Asked if the company was looking to close the office here in Bermuda, the spokesperson said: “Right now, we continue to have employees in Bermuda that are providing valuable services to our clients.”