About SSgA
Fiduciary Heritage of State Street Corporation
State Street Global Advisors (SSgA) is the asset management business of State Street Corporation, one of the world's leading providers of financial services to institutional investors1, with a heritage dating back over two centuries. Backed by the strength and stability of the State Street organization, SSgA makes continual investments in our asset management and client service platform, resulting in a client-focused, solutions-driven orientation. Our investment culture is built on experience and skill that each of our more than 460 investment professionals and over 2400 employees2 around the world bring to every client relationship.
1Pensions & Investments, 27 June 2011 2 State Street Global Advisors, as of 31 December 2011Our Leadership Team
SSgA’s leadership team is a global assembly of senior executives who lead through demonstration of expertise, client focus and operational excellence.
Scott F. Powers President and CEO State Street Global Advisors
Scott is President and Chief Executive Officer of State Street Global Advisors (SSgA), the investment management arm of State Street Corporation and a global leader in asset management. He is also a member of State Street's Management Committee, the company's senior-most strategy and policy-making team and sits on the State Street Major Risk Committee.
Prior to joining State Street in May 2008, Scott served as CEO of Old Mutual US, the US operating unit of London-based Old Mutual plc. During his seven-year tenure at Old Mutual, he was one of six senior executives overseeing the worldwide operations and was also a member of Old Mutual's executive committee, where he was actively involved in the development and execution on overall business strategy.
Previously, Scott held senior management positions at Mellon Institutional Asset Management and The Boston Company Asset Management. While at The Boston Company Asset Management, he served as Chief Operating Officer and Head of Marketing and Client Services. Scott began his career as a financial services advisor with Dean Witter Reynolds.
Scott has an AB in Economics from Harvard College and played varsity hockey. Additionally, he is an Incorporator of Cardigan Mountain School.
Kevin D. Anderson, Ph.D. Global CIO Fixed Income and Currency SSgA - United Kingdom
Kevin is a Senior Managing Director of SSgA and Global CIO of Fixed Income and Currency. He is responsible for all fixed income and currency strategies and products as well as extending SSgA's leadership position in innovative solutions based mandates for example those created for liability driven investors.
Prior to commencing his current role, Kevin was the Global Head of Fixed Income Beta Solutions. In this role, Kevin had responsibility for SSgA's global range of indexed fixed income strategies, beta solutions such as fixed income liability matching mandates and other fixed income synthetic beta replication strategies.
When Kevin joined SSgA in 2001, he was an investment manager, managing both active and index fixed income portfolios. He also worked extensively in the area of risk budgeting during that time. Before joining, Kevin was responsible for fixed income risk management and development of quantitative strategies at Schroders, having joined the industry in 1998.
Kevin holds a PhD in Theoretical Physics from the University of Southampton and he graduated with a BSc Honours degree in Mathematical Physics from the University of Edinburgh in 1994.
Lynn S. Blake, CFA CIO, Global Equity Beta Solutions State Street Global Advisors
Lynn is a Senior Managing Director of State Street Global Advisors and CIO of Global Equity Beta Solutions. In this capacity, Lynn oversees a team of 60 portfolio managers globally, and over 1,000 portfolios with assets in excess of $800 billion. In addition, Lynn Co-Chairs the SSgA Fiduciary Committee and is a member of the Investment Committee, the North American Product Development Committee, the IT Steering Committee, and the Executive Management Group.
Prior to Lynn's current role, she was Head of Non-US Markets of passive equities, responsible for overseeing the management of all non-US equity index strategies, as well as serving as portfolio manager for several equity index portfolios.
Lynn holds her MBA in Finance from Northeastern University, and a BS from the Boston College Carroll School of Management. She also earned the Chartered Financial Analyst designation and is a member of the Boston Security Analyst Society. Lynn joined SSgA in 1987.
Marc P. Brown Chief Administrative Officer State Street Global Advisors
Marc is Chief Administrative Officer of State Street Global Advisors, a member of the Executive Management Group, SSgA's most senior executive strategy team, and an Executive Vice President of State Street Corporation. Marc is responsible for SSgA's global infrastructure including all operations, technology, finance and data management functions. He served as Deputy Director of SSgA's International Offices from 1999 to 2004, during which time SSgA's global business became an important component of its broad investment solutions capability. In 2005, Marc led SSgA's global strategy and product development efforts and in 2006, he also assumed responsibility for SSgA's client facing teams in the U.S, Canada and Latin America, before moving to his current CAO position.
Marc joined SSgA in 1999 from State Street Corporation, where he worked for 18 years. In 1989, he established the Investment Manager Services Division, which provided transaction processing and relationship support to the investment managers contracted by State Street's institutional clients. In this role, Marc partnered with many large investment managers to formulate their strategic infrastructure and straight-through processing plans. Prior to this, Marc managed State Street's global subcustodian network. He assumed this position after serving a variety of roles in the Global Custody Department and U.S. Master Trust Division.
Marc holds a BA in Economic and Governmental Legal Studies from Bowdoin College.
Gregory A. Ehret Head of EMEA SSgA - United Kingdom
Greg is a Executive Vice President of State Street Global Advisors. Based in London, he became head of Europe, the Middle East, and Africa (EMEA) in 2008. In this role, Greg has overall responsibility for the development and oversight of SSgA's business in EMEA and is a member of SSgA's Executive Management Group. Greg is also responsible for overseeing the development and management of Product globally.
Prior to this appointment, Greg was Head of Sales and Distribution for SSgA in EMEA with responsibility for operations in Brussels, Milan, and Dubai.
Greg joined State Street in January 1993. Since joining State Street, Greg has held positions in operations, sales, marketing, and product development. Before leaving for London in 2006, Greg was responsible for Sales and Marketing through intermediaries in the United States with a focus on SSgA's SPDR exchange traded funds.
Greg has a BA in Economics from Bates College and an MBA from Boston University. He also holds the FINRA series 7, 24 and 63 licenses.
Daniel Farley, CFA CIO, Investment Solutions Group State Street Global Advisors
Dan is a Senior Managing Director of State Street Global Advisors, and the Chief Investment Officer for SSgA's Investment Solutions Group (ISG). In this role, he is responsible for the management and development of asset allocation strategies for institutional clients worldwide. His responsibilities include the design and management of Liability Driven Investments, tactical asset allocation and overlay strategies. He is a member of SSgA's Executive Management Group. Prior to this role, Dan was the Head of the US MACS team.
Dan holds a BSBA from Stonehill College and an MBA from Bentley College, and has earned the Chartered Financial Analyst designation. He is a member of CFA Institute and the Boston Securities Analyst Society. Dan has been a frequent speaker on the topics of asset allocation, liability driven investments and investment management for endowments/foundations. Dan also serves on the Board of Directors of the Crispus Attucks Children's Center in Dorchester, MA.
Michael P. Fay Chief Compliance Officer Compliance
Michael Fay is a Senior Vice President and Chief Compliance Officer of SSgA. As SSgA's Chief Compliance Officer, he oversees SSgA's investment advisory compliance programs globally. Additionally, he is responsible for SSgA's global compliance strategy and leading our team of compliance professionals in the ongoing development of our compliance programs across all of SSgA's businesses and markets worldwide. He is a member of SSgA's Executive Management Group.
Michael joins SSgA from Deloitte & Touche where he was a Principal and the Northeast Leader of Deloitte's Asset Management Sector. In this role, Michael specialized in providing strategic, risk, operational and compliance consulting services to a host of asset management firms, including SSgA. Mike brings more than 20 years of financial services industry experience, has both his M.B.A and B.S. in Finance from Bentley University, and holds Certified Bank Auditor and Certified Risk Professional certifications.
Phillip S. Gillespie, Esq. General Counsel State Street Global Advisors
Phillip S. Gillespie joined SSgA in June 2008 as Executive Vice President and General Counsel. In that role, Phil is responsible for the global legal affairs of SSgA and oversees a team of experienced attorneys, paralegals and assistants located in Boston, London, Paris, Tokyo, Montreal, Hong Kong and Sydney. He is a member of SSgA's Executive Management Group.
Phil joined SSgA from OppenheimerFunds, Inc. (OFI) where he was Senior Vice President and Deputy General Counsel and responsible for the day-to-day operations of OFI's Legal Department. Prior to joining OFI in 2004, Phil was First Vice President - Legal Advisory at Merrill Lynch Investment Managers (MLIM), where he managed a team of attorneys and paralegals providing legal services and oversight for MLIM's U.S. based investment teams, operations and its U.S. registered fund business.
From 1993 to 1997, Phil was an attorney with the U.S. Securities and Exchange Commission (SEC) in its Washington, D.C. headquarters holding posts as Senior Counsel in the Legal Policy and Counseling Group of the SEC's Office of the General Counsel and as Senior Counsel in the Office of Chief Counsel of the SEC's Division of Investment Management.
Prior to joining the SEC, Phil was an associate in the corporate finance practice of the Seattle law firm, Perkins Coie, and started his legal career as a law clerk to the Honorable Charles Clark, Chief Judge of the U.S. Court of Appeals for the Fifth Circuit.
Phil is a graduate of Georgetown University's School of Foreign Service and earned his JD, magna cum laude, from Tulane Law School. He is a native of the state of Mississippi.
Kathy M. Horgan Senior Vice President, Human Resources State Street Global Advisors
Kathy is a Senior Vice President and Senior HR Business Partner responsible for providing strategic HR support to State Street Global Advisors globally, including the development and execution of SSgA's recruitment, retention, talent management and succession planning strategies. Kathy's HR team provides solutions that support SSgA's business vision in order to maximize performance and global growth. She serves as a member of SSgA's Executive Management Group.
Prior to joining State Street in 2009, Kathy was Executive Vice President, Human Resources for Old Mutual Asset Management where she was responsible for the delivery of HR strategy and services supporting their institutional multi-boutique operating model. Prior to that, Kathy spent over ten years at Mellon Financial Corporation as Human Resources Director for their global asset management business. Prior to Mellon, Kathy was a Human Resources Manager at Boston Scientific Corporation. She began her career with Baxter Healthcare Corporation.
Kathy graduated from Cornell University with a BS in Industrial and Labor Relations.
Chris Johns CIO, Fundamental Equities Fundamental Equities
Chris Johns is CIO for Fundamental Equities, and is a Senior Managing Director of State Street Global Advisors and a member of the Executive Management Group. Chris joined SSgA Ireland in September 2006. In his prior role Chris was Head of Investments responsible for all the activities of the asset management area.
Before joining SSgA Ireland, Chris was an Investment Strategist at Collins Stewart in the UK. His previous posts include Head of Global Strategy Research at ABN AMRO, Director of Investment Strategy at Allied Irish Capital Management, Dublin, and Chief Economist for Bank of Ireland. During the earlier years of his career Chris was an economist at UBS – Phillips & Drew, HM Treasury and at the National Institute of Economic and Social Research.
He is a member of The Economic Research Advisory Panel since his appointment by the Welsh Assembly Government in April 2002. Chris is also a regular commentator in the media.
Shawn C.D. Johnson Investment Committee Chairman State Street Global Advisors
Senior Managing Director of State Street Global Advisors and SSgA Investment Committee Chairman. In addition to managing SSgA's team of economists, strategists and merger/acquisition activity globally, Shawn oversees SSgA's private equity investments including Global Alliance, LLC. He is a member of SSgA's Independent Fiduciary Committee, the Tuckerman Real Estate Investment Committee and a director of SSgA Funds Management, Inc. He is also a member of SSgA's Executive Management Group. Earlier in his career at SSgA, Shawn was the Director of Global Fundamental Research, managing a group of global equity, high yield and investment grade bond analysts.
Shawn is Chair of the Association of Institutional Investors Board of Directors, a group organized to represent the institutional asset managers and the interests of their clients in matters of important public policy, legislation and regulation. Shawn is a former Chairman of the Financial Services Sector Coordinating Council (FSSCC), the private sector organization that coordinates homeland security and critical infrastructure issues with U.S. federal financial regulators.
Prior to joining SSgA, Shawn was Vice President of Business Development for MGA Software; a Manager for Braxton Associates, Deloitte & Touche's Corporate Strategy Consulting Group; President of TMT Software Company; and a Manager for General Electric's Aerospace Business Group. He also served as an Intelligence Officer with the United States Naval Reserve.
Shawn earned a BS in Aerospace and Ocean Engineering and an MS in Electrical Engineering from Virginia Polytechnic Institute and State University (Virginia Tech), as well as an MBA from the Amos Tuck School of Dartmouth College. Shawn is also a trustee of Berea College and a member of the Board of the Virginia Tech Foundation.
James Kase Head of Global Sales and Marketing State Street Global Advisors
Jamie Kase is the Head of Global Sales and Marketing for State Street Global Advisors (SSgA). He is also a member of the Executive Management Group, SSgA's most senior strategy team, and Executive Vice President of State Street Corporation. Jamie is responsible for all aspects of North American sales, global marketing and relationship management functions in the institutional and intermediary markets. He will lead the Defined Contribution initiative in the U.S. for SSgA. Working in partnership with our EMEA and Asia Pacific Heads, Jamie will further build out SSgA's integrated branding and distribution strategy, along with the supporting processes, to effectively market nearly 300 investment strategies and solutions.
Prior to joining State Street in March of 2009, Jamie was an Executive Vice President at ING Investment Management in New York, where he led the company's U.S. distribution effort across defined benefit and investment only defined contribution channels. While at ING, Jamie chaired ING's Global Marketing and Distribution Committee, which is responsible for coordinating efforts across the globe with the regional heads in Europe and Asia.
Jamie has a long career in sales and marketing that has focused on delivering investment solutions to sophisticated institutional investors. Jamie was Chief Operating Officer and Head of the Institutional Business in the Americas at Merrill Lynch Investment Management. His experience includes covering derivatives with some of the largest desks in the world, including Bankers Trust, Swiss Bank (now UBS) and Lehman Brothers.
Jamie earned a BS in Political Science from Brown University.
Richard Lacaille Chief Investment Officer SSgA - United Kingdom
Rick is Global Chief Investment Officer (CIO) of State Street Global Advisors and a member of the firm's Executive Management Group. In his role as Chief Investment Officer Rick has responsibility for all investment management activity at SSgA, including research and trading. Prior to his current role, Rick was Head of Global Active Equities, and previously European CIO. Rick is a Board member of SSgA Limited, and also serves on the European and International Executive Committees and the SSgA Investment Committee. Before joining SSgA in 2000, he held a wide variety of posts in quantitative fund management and research at Gartmore Investment Management, including periods as Head of Quantitative Research and Head of Structured Equities.
Rick has a BSc(Hons) in Operational Research from Lancaster University and MSc in Econometrics from London Guildhall University. He is Chairman of the Board of Inquire (UK) a non-profit body devoted to the research and promotion of quantitative techniques in investment management, a member of the FTSE Policy Committee and he sits on the Asset Management Committee of the Investment Management Association. He is a regular writer and broadcaster on investment issues and speaks frequently at industry conferences.
Jacques M. Longerstaey Chief Risk Officer State Street Global Advisors
Jacques is an Executive Vice President and Chief Risk Officer of State Street Global Advisors. He is a member of SSgA's Executive Management Group. Prior to joining SSgA in April 2008, Jacques was Managing Director and head of the Risk & Portfolio Analysis Group (RPAG) at Putnam Investments. This group had oversight over investment risk, counterparty credit as well as operational risk across the fund complex. It was also responsible for providing performance attribution and other analyses to both internal and external clients.
Prior to joining Putnam in November 2003, Jacques was co-head of the risk management group at Goldman Sachs Asset Management. From 1987 to 1998, he held various positions at J.P. Morgan and Co. (economist and fixed income researcher for the Benelux, head of the Bond Index Group and originator of the RiskMetrics value-at-risk methodology).
Jacques holds a BS Economiques from the University of Louvain in Belgium. He is a member of the Board of Trustees and the Executive Committee of GARP (Global Association of Risk Professionals). Jacques is the Honorary Consul of Belgium for New England, covering Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Alistair Lowe Global Equities CIO State Street Global Advisors
Alistair is an Executive Vice President of State Street Global Advisors. He is the Global Equities CIO, responsible for the management and development of active and enhanced quantitative equity strategies worldwide. Alistair has oversight of SSgA’s Advanced Research Center (ARC), which contributes quantitative research for all asset classes. Alistair oversees SSgA’s Corporate Governance and Global Proxy Voting, in addition to Environmental, Social and Governance (ESG) investments. Alistair is also responsible for the Company Stock Group which manages fiduciary transactions and company stock investments, including employee stock ownership and 401(k) plans.
Previously, Alistair was CIO for Multi Asset Class Solutions and Currency at SSgA. Prior to that role, he was the head of the firm’s Investor Solutions Group (ISG), specializing in tax-efficient indexing and efficient implementation of active equity strategies. Ali is a member of SSgA's Executive Management Group.
Alistair joined SSgA in 1996 from NatWest Investment Management, Inc. and has been working in the investment management field since 1985. Alistair earned an undergraduate degree in Economics and a post-graduate degree in Computer Science at Cambridge University (Churchill College), UK. He is on the Board of Overseers of the New England Aquarium.
Steven R. Meier, CFA, FRM Cash CIO State Street Global Advisors
Steven is an Executive Vice President of State Street Global Advisors and is the Global Cash CIO. Steven, who joined SSgA in 2003, has more than 28 years of experience in the global cash and fixed income markets. Previously, he headed the firm's North American Cash and Securities Lending Cash Collateral portfolio management activities. He is a member of SSgA's Executive Management Group.
Prior to joining SSgA, Steven was a Senior Managing Director in State Street's Global Markets group responsible for developing its global fixed income business. He also served as Chief Operating Officer of State Street's electronic bond trading subsidiary, Advanced Auctions LLC, and was a member of its European subsidiary's Board of Directors. He received extensive capital markets experience and held senior positions in trading and investment banking in New York and London while working for Merrill Lynch and Credit Suisse First Boston for nearly 12 years. He also served on TradeWeb LLC's Executive Board while head of CSFB's global electronic trading unit. In addition, he was a senior global bond Portfolio Manager with Oppenheimer Capital and member of its Fixed Income Strategy Group.
Steven is a member of SSgA's Executive Management Group (EMG), Senior Management Group (SMG) and Investment Committee. He has earned the Chartered Financial Analyst designation, is a certified Financial Risk Manager (FRM), a member of the Boston Security Analysts Society, the Association for Investment Management and Research (AIMR) and the Global Association of Risk Professionals (GARP).
He holds a BBA from Hofstra University, an MBA from Indiana University's Graduate School of Business and an Advanced Certificate of Investment Management from the London Business School.
Bernard P. Reilly, CFA Head of Asia Pacific SSgA - Australia
Bernard is Senior Managing Director of State Street Global Advisors (SSgA). He oversees the Asia Pacific region and is based in Sydney. Bernard is a member of SSgA's Executive Management Group.
Bernard joined SSgA in February 1992 after spending two years with State Street in the analytics area. Since joining SSgA, Bernard has held positions in the operations, portfolio management and marketing areas. He was previously Senior Managing Director of SSgA Asia, based in Hong Kong with business responsibility for the Hong Kong, Singapore and Sydney operations.
Bernard has a Bachelor of Economics degree with a major in Finance and Accounting from Macquarie University, Australia. He has earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute.
Global Locations
SSgA has a network of offices, investment centers and affiliations that provide access to a wide range of investment strategies and services around the world.
State Street Global Alliance
Global Alliance seeks to invest in early stage, innovative asset management firms in an effort to generate private equity-like returns and increase the investment capabilities, alpha generation, and intellectual capital of its two shareholders, SSgA and APG, a Dutch pension fund.
As of December 31, 2011, Global Alliance maintains investments in five portfolio companies with combined assets under management of $19 billion.
Global Alliance seeks to make equity investments in early stage asset management firms, or in investment teams, with cutting edge, innovative investment ideas and strong performance. In addition to the resources and support of SSgA and APG, Global Alliance offers a partnership structure which provides strong incentives as well as a powerful platform for growth.
Advantages of Global Alliance companies:- Distribution power of SSgA
- Seed capital from APG
- Separately branded and capitalized companies
- Management retains ownership stake in their firms
- Entrepreneurial culture
- Affiliate of SSgA and APG
From the earliest days, SSgA and APG recognized the need to establish ownership and compensation structures for our Global Alliance companies that differ from those at the parent organizations, and that attract exceptional investment managers. Often, talented managers want to operate smaller, more entrepreneurial firms. We believe that there are opportunities for value creation at these smaller firms.
Our process begins by sourcing new companies using our extensive global network of affiliates. After agreement has been reached on whether or not to move forward, we use our resources to conduct a complete and thorough due diligence analysis of the company, the management team, the investment premise, and the market. In many cases, the information gained from this analysis will aid in the development/creation of the potential partner's business plan. If an investment by Global Alliance is prudent, we then work to negotiate the capitalization and structure of the new entity. Post investment, Global Alliance management provides value-added assistance and oversight as necessary to help our partners achieve their growth plans.
Rexiter is a specialist emerging markets portfolio manager employing a fundamental approach at both the market and stock level.
> Visit Rexiter
SSARIS operates as an absolute return and multi-asset class strategies platform with global reach. SSARIS combines an experienced management team with seasoned professionals who have expertise in selecting and monitoring absolute return investments.
> Visit SSARIS
Shott Capital manages securities of post-venture capital companies.
> Visit Shott Capital Management
The Tuckerman Group brings real estate investment management expertise to SSgA and offers both direct real estate investments as well as public real estate securities as competitive and investment alternatives to clients.
> Visit The Tuckerman Group
Sectoral Asset Management Inc. is an industry-leading specialist in managing global investment portfolios in the healthcare sector.
> Visit Sectoral Asset Management
Press Releases
Investor Confidence Index Falls 2.1 points in January from 94.5 to 92.42012-01-31
Investor Confidence Index Slips Slightly in December from 99.4 to 99.3 2011-12-27
Investor Confidence Index Increases from 95.2 to 97.2 in November2011-11-29
SSgA Awarded €111 Million Equity Mandate from Länsförsäkringar Fondförvaltning AB, Affärsenhet Bank2011-11-08
Investor Confidence Index Increases from 90.0 to 96.7 in October2011-10-25
State Street Global Advisors Launches Green Bond Investment Strategy2011-10-19
State Street Global Advisors Further Expands Fixed Income Leadership Team2011-10-18
Investor Confidence Index Increases from 88.1 to 89.9 in September2011-09-27
Ben Clissold Joins State Street Global Advisors as Senior LDI Portfolio Manager2011-09-01
Investor Confidence Index Decreases from 102.5 to 89.6 in August2011-08-30
State Street Global Advisors Appoints Head of UK, Middle East and Africa Institutional Business2011-08-15
Investor Confidence Index Increases from 98.9 to 101.1 in July2011-07-26
SSgA Strengthens Its Cash Team with Two New Appointments2011-07-13
SSgA Names New Heads of EMEA Compliance and Product Engineering2011-07-07
State Street Launches Center for Applied Research to Serve Investment Management Industry2011-06-29
Investor Confidence Index Drops from 104.3 to 99.2 in June2011-06-28
State Street Global Advisors Announces Key Appointments to Fixed Income Leadership Team2011-06-08
Investor Confidence Index Increases from 97.3 to 104.1 in May2011-05-31
Investor Confidence Index Falls Slightly from 97.3 to 97.0 in April2011-04-26
Investor Confidence Index Rises from 91.8 to 98.3 in March2011-03-29
SSgA Appoints New Active Australian Equities Head2011-03-14
The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.
This document contains certain statements that may be deemed to be forward-looking statements. All statements, other than historical facts, contained within this article that address activities, events or developments that SSgA expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions and analyses made by SSgA in light of its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances, many of which are detailed herein. Such statements are subject to a number of assumptions, risks, uncertainties, many of which are beyond SSgA's control. Readers are cautioned that any such statements are not guarantees of any future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.
Rankings
Through the years, SSgA has achieved high rankings* for assets under management and new clients in some of the world’s most recognized financial publications. And while we are proud of our standings, what these rankings represent is the trust our clients place in our ability to deliver investment solutions that help meet their needs.
Assets Under Management
#2 U.S. Institutional Tax-Exempt AssetsPensions & Investments26 Dec 2011
#2 World's Largest Money ManagerPensions & Investments/Towers Watson World 50026 Dec 2011
#2 Worldwide Institutional AssetsPensions & Investments27 June 2011
Key Asset Class, Style, Business
#1 Sovereign Wealth Fund AssetsPensions & Investments27 June 2011
#1 Endowment/Foundation AssetsPensions & Investments30 May 2011
#2 Largest Index ManagerPensions & Investments19 Sept 2011
#2 Defined Benefit AssetsPensions & Investments30 May 2011
#2 Central Bank AssetsPensions & Investments27 June 2011
#2 ETF ManagerPensions & Investments 27 June 2011
#2 Passive Domestic EquityPensions & Investments30 May 2011
#2 Passive International SecuritiesPensions & Investments 30 May 2011
#3 SubadvisorPensions & Investments27 June 2011
#3 Manager of Currency (alpha strategies)Pensions & Investments30 May 2011
#4 US Client Assets Pensions & Investments27 June 2011
#6 Defined Contribution Assets Pensions & Investments26 Dec 2011
*Rankings are not indicative of future performance. The rankings shown may not be represenative of any one client's experience.Corporate Social Responsibility
Giving back to the communities where we operate and being conscious of the impact we have on our physical surroundings are essential aspects of our corporate social responsibility initiatives. At State Street, we take our commitment to shareholders, customers, employees and the community seriously. Through our corporate social responsibility (CSR) initiatives, we seek to have a positive impact on our daily activities.
State Street provides value to its constituents first and foremost by seeking to generate consistent, strong financial results. The way we conduct business underscores our long-standing reputation for quality, integrity and consistency. We offer innovative products to our clients, provide meaningful employment opportunities and give back to the communities in which we operate. Employee engagement is a fundamental value at State Street, and we believe that our talented workforce is an asset to our company and our communities. We are also conscious of the impact we make on our physical surroundings through our daily operations and in the services we offer. Environmental responsibility has a direct effect on our ability to attract and retain customers, operate more cost-effectively, and on our long-term sustainability.
Our Corporate Social Responsibility Working Group, comprised of more than 40 members from State Street’s business areas, corporate functions and geographic regions, is the foundation of our CSR governance structure. Several SSgA executives from around the world serve on this working group. Learn more about State Street Corporate Social Responsibility.
Our Perspective and Commitment
Global Perspective with Local Expertise
SSgA’s global presence and research focus allows us to invest effectively in markets worldwide, while working to meet the objectives set by each and every client. Our scale and experience afford us greater access to financial markets and bring our clients the potential benefits of liquidity, cost efficiencies and investment precision. This results in portfolios that are focused on maximizing risk-adjusted returns.
Investment Culture Built on Experience and Skill
Our world-class operational platform features 29 global offices*, 10 investment centers* and a 24-hour global trading capability with trading desks in Boston, London and Hong Kong.* This allows SSgA to share with clients the best ideas and points of view from experts around the globe.
* State Street Global Advisors, as of 30 June 2011Advanced Research In Every Portfolio
SSgA’s research capability has three dimensions: our proprietary Advanced Research Center (ARC), dedicated asset class research, and specialized credit research. The ARC’s 32 highly skilled professionals*, located throughout our global offices, work with our investment teams to develop proprietary models to identify opportunities and seek to manage risk. Dedicated asset class researchers work with individual equity and fixed income investment teams to support our active and passive investment processes. In addition, our cash credit research team is one of the most experienced in the industry.
* State Street Global Advisors, as of 30 September2011Our Investment Platform
A Precise Approach
SSgA combines a disciplined investment process with a global investment platform that gives clients access to every major asset class, capitalization range and style, with strategies spanning investment approaches including passive, active, absolute return and fully customized portfolios.
Broad Range of Solutions
We are recognized for both our indexing leadership and alpha-generation expertise. For clients, this translates into:
- Client-focused solutions developed and managed for virtually any investment need
- Rigorous governance and the highest standard of oversight
- Historically consistent investment results
- Investment transparency and risk management
Our Process and Solutions
SSgA fosters strategic partnerships between our portfolio managers and research teams, who work together to understand client needs and provide recommendations and solutions. Our global trading team focuses on maximizing efficiencies, minimizing costs and managing risks. SSgA engineers investment strategies across equity, fixed income, currency, real estate and absolute return, and covering the spectrum of investment approach, including indexed, enhanced and active. Importantly, clients can access these solutions through a range of vehicles, such as private funds, commingled investment vehicles, ETFs, mutual funds and client-directed mandates (e.g. separately managed accounts or segregated mandates). In addition, through our Global Alliance businesses, we offer a range of alpha-generating strategies, including absolute return, multi-asset class, REITs (real estate investment trusts), active emerging markets and healthcare.
Our Indexing Leadership
SSgA’s index equity solutions reflect our core strengths: experience, breadth, flexibility, internal liquidity and size. Our product breadth and depth make us one of the industry leaders, with a large selection of strategies and investment vehicles that track almost any benchmark. We strive to provide the flexibility necessary to accommodate our clients’ diverse range of complex investment objectives.
SSgA’s SPDR® brand has become an ETF leader, with more than $270 billion in assets under management — one of the broadest ranges of ETFs in the industry.* State Street, in partnership with the American Stock Exchange, created the first exchange-traded fund (ETF) in 1993 (SPDR S&P 500 – Ticker SPY). Since then, we’ve sustained our place as an industry leader with many ground-breaking products, including first-to-market with gold, international real estate, international fixed income and sector ETFs.
* State Street Global Advisors as of 31 December 2011Overview
As one of the world's largest institutional asset managers, SSgA has a long and proud heritage working with the most sophisticated investors around the world. Our investment solutions and strategies are designed to help a diverse range of investors meet various investment objectives. Our clients include public and private retirement plans of all sizes, large corporations, non-profit organizations, insurance companies, banks and central banks, and are located in every major region around the world. Our dedicated client service and our consultative solutions-based approach enable us to build long-lasting relationships with institutions of all sizes, across all regions and all investor segments.
Corporate Pensions
SSgA has become one of the world's largest managers of corporate defined benefit pension plans because of our commitment to delivering solutions designed to meet the unique needs of corporate plan sponsors. We have the size, scope and expertise to meet our clients’ specific requirements, which include liability matching, accounting solutions and growing assets for meeting obligations well into the future. We work with our clients to help minimize their funding volatility while systematically improving the funding position of their portfolios, and provide research tailored to the specific needs of the pension community. To meet these objectives and varying levels of investment SSgA offers defined benefit pension plans a wide complement of investment solutions including cash, equity, fixed income and alternative strategies spanning investment approaches from passive to active to absolute return.
Public & Multi-Employer Plans
SSgA exercised market leadership in 1995 when we were among the first asset managers to establish a business development and relationship management team dedicated solely to public pension plans. Understanding the structure and process of public and union plans takes expertise and experience. Through a coordinated effort, our team manages all types and sizes of public fund accounts—from local police and fire retirement plans to the largest state employees’ retirement systems.
SSgA’s dedicated Taft-Hartley team focuses solely on servicing and building relationships with labor unions and their pension fund trustees, and has proudly managed pension assets for labor union clients since 1978.
As a committed service provider to the union retirement plan market, we take pride not just in the number of relationships we have – but also in the strength of these relationships. Most of our Taft-Hartley clients have two or more strategies with us, having recognized that our capabilities and investment performance are powerful across a variety of investment disciplines.
The team is comprised of seasoned professionals who have a deep understanding of the Taft-Hartley market and a strong understanding of finance and investment management offerings. We believe our clients benefit as they are able to share investment ideas and trends from the marketplace with members of our Taft-Hartley team.
Official Institutions
Established in late 2000, SSgA's Official Institutions Group (OIG) oversees investment management services provided to sovereign clients such as central banks, government agencies and supranational institutions. The OIG team now manages over US$375 billion for 73 central banks and government clients worldwide.* Sovereign clients have similar objectives and challenges whether they are based in the developed or emerging world, and regardless of their geographical location. OIG recognizes this and focuses on the common needs of this growing class of investors.
OIG uses its experiences with clients worldwide to provide both technical and strategic advice and skills transfer to official sector clients, as well as providing them with a single point of contact for all SSgA services. Our services for official sector clients include:
- Dedicated focus on central bank reserves and official sector funds
- Expertise in advising on strategic policy issues for those managing public sector assets
- Technical advice and skills transfer capabilities in all aspects of investment management and risk control techniques
Defined Contribution
SSgA is one of the largest investment-only providers of DC solutions in the marketplace today. Our commitment is to partner with plan sponsors to help them deliver retirement security for their employees. We recognize that providing best-in-class investment solutions is one of several key components to make individually-funded retirement plans work. That's why we also provide plan sponsors with assistance focused on strategic plan design and participant communications.
When you shift to a self-funded retirement system, it's critical to change how retirement plans are designed. At SSgA, we take this issue seriously and are committed to taking on this challenge. Our DC team is passionate about retirement and committed to sharing new ideas, creating new solutions and sharing opportunities that can create better retirement plans for our clients and their employees. Together, we can make retirement work.
Cash
SSgA’s Corporate Treasury Management Team is a separate and distinct unit at SSgA dedicated to the corporate treasury market. Since 1978, we have helped our clients meet their operating and liquidity needs through customized solutions, responding to a wide variety of requirements and challenges. Key to our success has been our dedication to our client relationships.
The team benefits from SSgA’s investment capability, vast resources and economies of scale that are often unavailable at smaller firms. We leverage SSgA’s rigorous research, proprietary models and state-of-the-art controls to deliver cost-effective solutions for our clients.
Our customized solutions encompass a broad selection of investment products that span the short-to-intermediate term fixed income market and cover the full spectrum of risk and return options. We are able to manage to most benchmarks and risk targets or apply most screens our clients require.
Sample Strategies
- Aggregate
- Government/Corporate
- Global
- Aggregate MBS
- Government
- ABS
- Treasury
- CMBS
- Agency
- Municipal
- Corporate
- Crossover
Sample Benchmarks
Taxable
- JP Morgan 1 Month Libor
- Merrill Lynch 6 Month Treasury
- Merrill Lynch 0-3 Year ABS
- Merrill Lynch 1-3 Year Government
- Barclays Capital 1-5 Year Credit/MDS
- Barclays Capital Intermediate Gov/Credit
- Barclays Capital Aggregate
Tax Exempt
- Barclays Capital 1 Year Muni
- ImoneyNet MFR Tax Free (ALL)
- Barclays Capital Muni 1-10 Year Blend
Insurance
SSgA’s tailored insurance asset management business brings together our vast global investment resources and capabilities to deliver strategic solutions for our insurance clients. SSgA manages insurance assets spanning investment approaches including passive, enhanced and active across all asset classes including equity, fixed income and currency, with some utilizing our asset allocation strategies. We have relationships with insurance clients including life and health companies, property and casualty companies, reinsurance companies and captive insurance companies.
Financial Intermediaries
State Street Global Advisors caters to the specific needs of financial professionals such as brokers, registered investment advisors, financial planners, private client officers and a variety of other wealth and portfolio managers. We offer a dedicated team of sales staff, marketing specialists and strategy and research experts, to provide institutional caliber products and services to sophisticated investment professionals. Our comprehensive offerings span the full range of risk/return options providing a myriad of investment solutions including mutual funds and SPDR® exchange-traded funds. We also offer SPDR University, an online educational portal built exclusively for investment professionals.
Sub-Advisory
Our expertise in sub-advisory services helps provide our clients with a broad range of product offerings and skilled client support. As one of the largest global investment management firms, SSgA manages money for some of the most respected insurance, mutual fund, third-party fiduciary and investment-only DC providers. With a solution set that spans everything from passive exposure through active and alternatives, we have broad and deep capabilities to deliver to our clients. In addition to investment management, we also offer a dedicated and experienced team that understands the complexities of the sub-advisory business from sales, legal, compliance and operations perspectives.
Experience and innovation, backed by a global presence and a wealth of resources, is the cornerstone of success, for us and our clients.
Foundations & Endowments
SSgA has become the largest manager of endowment, foundation and other nonprofit assets* because of our client-centered philosophy. With a dedicated Nonprofit Relationship Management Team, we help clients address the pressing issues many endowment and foundations face including managing liquidity, rethinking asset allocation and managing tail risk. These solutions can include:
- Beta Exposure
- Cash Management
- Asset Allocation
- Real Asset Exposure
- Inflation Hedging
- Mission Investing
- Direct Real Estate
- Fund-of-Funds
- Emerging Market Equity and Debt
