State Street Global Advisors Names Global Head of Cash Business
February 01 2010 - 2:58PM
Business Wire
State Street Global Advisors (SSgA), the investment management
business of State Street Corporation (NYSE: STT), today announced
the appointment of Barry F. X. Smith as global head of its Cash
business.
In this new position, Smith, 44, will be responsible for all
non-investment activities associated with SSgA’s $500 billion
global cash business, including distribution, pricing, product
development, and client service. He reports to James Kase,
executive vice president and head of Global Sales and Marketing,
and will work closely with the cash investment management team led
by Steve Meier, executive vice president and Global Cash chief
investment officer, to ensure a cohesive approach to building the
business.
With a disciplined investment process, SSgA has been managing
cash for more than three decades and is today among the leading
managers in this asset class. Its cash investment team has
extensive experience managing funds through all market environments
and has delivered consistently strong risk-adjusted
performance.
“While SSgA is already among the leading managers of cash assets
globally, it was clear that we needed an experienced industry
veteran to help drive the business to the next level,” said Kase.
“Barry has spent his entire career in the cash business and has a
strong mix of leadership and business management skills that makes
him uniquely qualified to perform this role. We believe that the
recent market crisis will create more opportunities for firms like
SSgA, which performed well and have emerged strongly from this
market disruption. Barry’s addition to our team will only serve to
enhance this success.”
Smith joins SSgA from BlackRock, where he most recently served
as managing director and head of the Private Label Cash Management
business. There, he was a member of the global Cash Management
Executive Group, responsible for all aspects of distributing,
managing and servicing the company’s liquidity management products.
Smith joined BlackRock via its acquisition of Merrill Lynch
Investment Managers, where he served as head of institutional cash
management and in various sales and marketing management roles over
the course of 19 years. Smith holds a B.A. in financial economics
from Saint Anselm College.
“I am very excited to be joining one of the largest and most
well respected managers of cash in the world,” said Smith. “The
credit and portfolio management teams dedicated to cash management
at SSgA are among the best in the industry. It is a highly talented
and experienced group with an institutional investment process that
is well positioned to address the needs of clients in a challenging
and evolving liquidity marketplace.”
State Street Global Advisors, investment management business of
State Street Corporation (NYSE: STT), delivers investment
strategies and integrated solutions to clients worldwide across
every asset class, investment approach and style. With $1.9
trillion in assets under management at December 31, 2009, State
Street Global Advisors has investment centers in Boston, Hong Kong,
London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and
Zurich, and offices in 26 cities worldwide. For more information,
visit State Street Global Advisors at www.ssga.com
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