State Street Taps Kathryn Sweeney as Head of SPDR Institutional Sales

State Street Global Advisors (SSGA), the asset management arm of State Street Corporation (NYSE: STT), has on-boarded Kathryn Sweeney as its newest Head of SPDR Americas Institutional Sales. The move comes amidst a groundswell of demand for exchange-traded-funds (ETFs) in North America, namely amongst institutional clients.

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ETF assets reached a record $2.6 trillion in 2016, having grown by a margin of 18 percent on a year-over-year basis, according to Broadridge’s FDI tracking data. With demand and activity for ETFs steadily rising during H1 2017, SSGA has opted to strengthen its institutional sales team, laying the framework for the hire of veteran Ms. Sweeney.

SPDR ETFs encompass a composite of international and domestic asset classes and are managed by SSGA Funds Management, Inc. The hire of Ms. Sweeney as the group’s Head of SPDR Americas Institutional Sale will see her reporting to Nick Good, SSGA’s Co-Head, along with Rory Tobin of the global SPDR business.

In this role, she will be tasked with developing and leading the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of the SPDR Americas Institutional Sales strategy across the Americas, a key position of growth for the group. Furthermore, she will also be responsible for collaborating with the Americas Institutional Client Group (ICG) team under Barry F.X. Smith, the acting Head of the Americas ICG at SSGA, with the goal of fostering the continued drive of ETF sales with asset owners.

Ms. Sweeney joins SSGA from Goldman Sachs, having worked for nearly two decades at the lender in several senior level roles, focusing on its ETF business. Her tenure has seen her work in both London and New York, garnering extensive experience in the ETF and product strategy space. In particular, she held roles such as Global Head of Distribution and Product Strategy for the Securities Division, with additional stints as Head of US ETF Execution and Risk, and as an ETF trader in both cities.

Nick Good, SSGA’s Co-Head of the global SPDR business, commented: “ETFs are being used by a greater number of institutional investors seeking to reduce fees and increase the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and transparency of their holdings. Our global SPDR ETF business has a strong track record of product innovation, including working with large institutional clients to develop products to meet their specific investment needs.”

“Given Kathryn’s visibility and relationships within the ETF industry we are confident that she will continue to advance the SPDR position in the institutional market, and we are excited to have her join our Global SPDR team,” he added.