The invention generally relates to exercise equipment that includes a pulley and cable mechanism. More specifically, the invention relates to an adjustable mounting device for the pulley so that the pulley may be mounted at different locations on the exercise equipment. This provides the user of such exercise equipment with the ability to adjust and readily fine-tune the position of the pulleys for proper biomechanical alignment with the user's body. Such a mounted pulley may be used on Pilates apparatus, weight and strength training equipment or other exercise equipment.