State Street Global Advisors Expands High-Yield Team
May 16 2007 - 9:14AM
Business Wire
State Street Global Advisors (SSgA), the investment management arm
of State Street Corporation (NYSE: STT), announced today the
appointments of Jeffrey Megar, CFA, as leveraged loan manager and
T.J. Gaylord as senior high-yield analyst in its Global Fixed
Income group. Megar will report to Scott Richards, senior
high-yield portfolio manager. Gaylord will report to Matthew
Steinaway, head of global credit research. Megar and Gaylord are
joining a team made up of industry veterans with a strong track
record in the sector, all of whom have worked together in past
roles. Their addition continues an emphasis on broadening active
credit management capabilities in SSgA�s Global Fixed Income group.
Together with the recent addition of Richards and senior high-yield
analysts Thomas Stolberg, CFA, and Charles Haley, CFA, they will
serve to increase the breadth and depth of SSgA�s
noninvestment-grade fixed income coverage. Megar brings specialized
expertise in managing and trading pools of leveraged loans and will
help develop and manage new leveraged loan investment vehicles,
including Collateralized Loan Obligations (CLOs). He comes to State
Street Global Advisors from Fortis Investment Management Co., Inc.,
where he served as senior portfolio manager. Megar previously
served as managing director, leveraged loan trader and assistant
portfolio manager at CypressTree Investment Management Co., Inc. He
also held the role of vice president, high-yield bond analyst at
Harborview Capital Management Co., Inc. Megar holds a Master of
Business Administration degree from Northeastern University and a
Bachelor of Arts degree from Framingham State College. Gaylord will
cover gaming, environmental, metals and minerals, and aerospace and
defense names at State Street Global Advisors. He joins SSgA from
Columbia Management, Inc., where he served as a vice president and
senior high-yield analyst. He previously held the role of senior
investment accountant at CGU Insurance Company. He received a
Master of Finance degree from Northeastern University and a
Bachelor of Science degree in business administration, magna cum
laude, from the University of Hartford. �The appointments of these
professionals underscore our continuing commitment to offer our
clients a deep bench of investment management expertise and broader
coverage in active credit,� said Paul Greff, director of Global
Fixed Income for State Street Global Advisors. �Recent returns in
our high yield funds demonstrate they are already strengthening our
ability to deliver a robust, comprehensive alpha-generation
toolkit. We have developed an array of investment vehicles that
enable our clients to efficiently pinpoint the risk/reward
opportunities they desire across sectors or geographic regions.�
More than a decade ago, SSgA established commingled bond fund
structures that separate bond funds by sector and maturity. This
structure enabled State Street Global Advisors to provide its
institutional clients with customizable fixed income solutions,
often including the use of both passive and active bond strategies
for a single client. More recently, SSgA has extended this approach
to achieve full separation of alpha and beta in the firm�s fixed
income offerings. SSgA continues to be a leader and innovator in
institutional investment management. Already a global leader in
passive fixed income, the firm has developed a suite of active and
absolute return strategies across various fixed income asset
classes, as well as portable alpha strategies that permit the
�porting� of alpha from one strategy to another through the use of
derivatives. In recent years, State Street Global Advisors also
moved into the management of structured fixed income products such
as Collateralized Debt Obligations (CDOs). SSgA manages more than
$800 billion in total fixed income and cash (as of March 31, 2007).
Its fixed income group comprises more than 130 investment
professionals around the world, including more than 70 in the
United States. About State Street Global Advisors State Street
Global Advisors, the investment management arm of State Street
Corporation, delivers investment strategies and integrated
solutions to clients worldwide across every asset class, investment
approach and style. With $1.8�trillion in assets under management
as of March 31, 2007, State Street Global Advisors has investment
centers in Boston, Hong Kong, London, Milan, Montreal, Munich,
Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25
cities worldwide. For more information, visit State Street Global
Advisors at www.ssga.com.
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