State Street Global Advisors (SSgA) has reshuffled its sales and relationship management team that serves financial intermediaries. Its newly renamed Intermediary Business Group comprises multiple operating units encompassing the full array of investment professionals as well as a fully integrated staff of strategy and research professionals.
The group was originally created in 2001 to provide service to a growing client base of sophisticated investors such as financial advisors, broker-dealers, registered investment advisors (RIAs) and family offices.
The group represents more than $134 billion in assets under management.
As a result of the restructuring, several key State Street executives have been promoted. Rich Koerner has been appointed national sales director focusing on broker-dealer firms. He will oversee 10 regional consultants supporting national, regional and independent BDs.
Kevin Quigg has been appointed director of sales focusing on wealth managers including banks, hedge fund and mutual fund managers, proprietary trading desks, RIAs and family offices. Additionally, Michael Stevens has been appointed to the new position of manager focusing on the RIA and family-office channels, and will report to Quigg.
Jill Iacono has been appointed director of national accounts. She will oversee national account management across the Intermediary Business Group.
A second SSgA unit with an advisory slant, the Strategy and Research Group, also saw some changes. Dodd Kittsley was appointed director of the group, a team of eight research strategists dedicated to providing customized portfolio solutions to financial advisors, asset managers, RIAs and family offices. Kittsley will also drive State Street's thought leadership on trends and developments in the exchange-traded fund and investment management industries.
"This new approach is the latest step in our strategy to accelerate State Street's growth in exchange-traded funds, mutual funds and separately managed accounts while aligning our resources to best serve the distinct needs of each specific channel," says Anthony Rochte, senior managing director of SSgA. "In particular, the Strategy and Research group is unique within the industry and combines timely, actionable research to support our diverse range of clients, who are rapidly increasing their use of State Street's investment products."
Ron DeLegge is the editor of www.etfguide.com.