State Street Global Advisors is dropping its “SSGA” moniker.
The asset manager said it is moving away from using the short hand SSGA — effective immediately — and would like to be referred to as State Street Global Advisors going forward. Should shorthand need to be used, then it can be communicated as “State Street” on second reference rather than “SSGA.”
The change is a move to clear up confusion and to make sure State Street Global Advisors’ brand perception is consistently communicated when spoken about.
According to Stephen Tisdalle, chief marketing officer for State Street Global Advisors, the firm has done some analysis and found there’s some confusion around the name, and as a result the entity itself.
Tisdalle said a whole portion of the market referred to the firm simply as “State Street,” while another portion refer to it as “SSGA.” Another portion referred to it as “State Street Global Advisors,” and another portion refer to it as “State Street Bank.”
“Depending on who you are and what day of week it is and what the type of meeting is, there’s been an interchange, an interuse of words and names that can make it confusing,” he told ThinkAdvisor.
So, now, the firm is attempting to streamline the communication and enforce discipline so it is clear to everyone that interacts with State Street Global Advisors who they’re interacting with.
“What we’re really seeking to do is really have clarity that the entity you’re working with is State Street Global Advisors,” Tisdalle explained. “We’re the third largest asset manager in the world, and a lot of people don’t understand or know that. There’s one unified organization that you work with that has many capabilities that expand across the asset classes, multi-asset class solutions, and the ETF offerings.”
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