We demonstrate resonant Faraday polarization rotation in plasmonic arrays of bimetallic nano-ring resonators consisting of Au and Ni sections. This metamaterial design allows the optimization of the trade-off between the enhancement of magneto-optical effects and plasmonic dissipation. Nickel sections corresponding to as little as ~6% of the total surface of the metamaterial result in magneto-optically induced polarization rotation equal to that of a continuous nickel film. Such bimetallic metamaterials can be used in compact magnetic sensors, active plasmonic components, and integrated photonic circuits.