State Street Global Advisors Appoints Head of Liability-Driven Investing
September 20 2005 - 12:44PM
Business Wire
State Street Global Advisors (SSgA), the investment management arm
of State Street Corporation and the largest institutional money
manager in the world, announced today the appointment of Joseph
Moody to head of the liability-driven investing team of SSgA's
Global Asset Allocation group. Moody was previously a senior
investment manager in the Fixed Income group. He reports to Rick
Lacaille, chief investment officer for State Street Global Advisors
in Europe. Moody is responsible for overseeing the management and
development of liability-driven investing strategies for SSgA's
institutional clients. A popular and powerful solution that is
changing the way pension liabilities are managed, liability-driven
investing presents an alternative to conventional static benchmarks
by structuring an asset allocation that closely matches expected
investment returns with the liabilities of an individual pension
scheme. SSgA's liability-driven strategies can be customized to
meet the risk preferences of individual pension schemes and their
unique regulatory frameworks. Most recently, SSgA has launched two
liability-driven capabilities--Pooled Asset Liability Matching
Solution (PALMs) and Dynamic Risk Allocation Model (DRAM)--for
defined benefit plan clients. Both strategies are aimed at helping
pension funds match future liabilities and manage market risk while
maintaining maximum flexibility and transparent pricing. "Joe's
deep understanding of liability-driven investing and his hands-on
experience as part of the Global Fixed Income investment team make
him a natural choice to lead this initiative at SSgA," said
Lacaille. "Since 2001, when Joe joined our Fixed Income group, SSgA
has substantially grown assets under management in
liabilities-driven investment strategies. I have confidence in
Joe's ability to foster further growth in this important component
of SSgA's global capabilities." Moody has over 11 years experience
managing global and domestic fixed income portfolios. He came to
SSgA in 2001 from Foreign & Colonial Management in London,
where he was assistant director. Prior to that, he was a chartered
engineer in the aerospace industry working on development and
flight-testing programmes of military aircraft. He was also a
lecturer at the International Test Pilot's School. Moody holds a
B.Sc. in electrical and electronic engineering and a M.Sc. in
strategic risk management. About State Street Global Advisors State
Street Global Advisors, the investment management group of State
Street Corporation, delivers investment strategies and integrated
solutions to clients worldwide across every asset class, investment
approach and style. With $1.4 trillion in investment programs and
portfolios as of June 30, 2005, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Milan, Montreal,
Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in
28 cities worldwide. For more information, visit State Street
Global Advisors at www.ssga.com About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and
trading. With $9.6 trillion in assets under custody and $1.4
trillion in assets under management as of June 30, 2005, State
Street operates in 25 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's Web
site at www.statestreet.com
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