, the head of sales and marketing at State Street Global Advisors
], has left the firm. The sales and marketing side of the operation will now fall under the purview of a new C-level executive.
The asset management shop has appointed Greg Ehret
to the new position of global chief operating officer. As part of his new job, Ehret will take over Kase's duties.
London-based Ehret has been with SSgA for 20 years and will fill the new position immediately. His current position, the head of EMEA, will be filled by senior managing director Mike Karpik, also London-based.
Read the full release below.
Company Press Release
State Street Global Advisors Appoints Greg Ehret to Global Chief Operating Officer
Newly Created Role Combines Sales, Product, Marketing and Operations Functions to Strengthen Client Service and Organizational Effectiveness
Boston – September 11, 2012 —State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT), announced today the appointment of Greg Ehret to a newly created position as global chief operating officer. Ehret, currently based in London and a 20-year SSgA veteran, will assume the position effective immediately. Mike Karpik, senior managing director, will assume Ehret’s current responsibilities as head of EMEA. Karpik, also based in London, is a 25 year industry veteran, having spent the past 14 years with SSgA.
“Key to our success at SSgA is our global breadth, deep reservoir of talent, and organizational efficiency and scalability enabling us to deliver high quality investment solutions to our clients,” said Scott Powers, president and chief executive officer of SSgA. “As a proven leader, Greg has gained considerable insight into the needs of our clients. In this new role he can help sharpen and advance our competitive advantages as well as accelerate our ability to meet our strategic objectives.”
Greg Ehret joined State Street in January 1993 and has held a range of senior level positions in operations, sales, marketing and product development including as co-head of the firm’s industry leading ETF business. In 2008, he was appointed head of SSgA’s EMEA business based in London. Prior to this role, Ehret was head of sales and distribution for SSgA in EMEA, with responsibility for operations in Brussels, Milan, and Dubai.
Mike Karpik joined SSgA in 1998 and in 2009 he was named head of Investments for EMEA based in London. Earlier this year he was appointed head of SSgA’s UKMEA and Ireland business in addition to his head of investment role. He is Chairman of the Board for State Street Global Advisors Limited and a member of both State Street Global Advisors Ireland and France boards. Mike also serves on a number of SSgA fund boards in the UK, Ireland and France.
“I am very excited to take on this new challenge,” said Ehret. “I intend to focus our organization on leveraging the power of our strong and stable core to invest in the leading edge solutions that our clients need to meet the challenges of this highly complex and competitive environment.”
As a result of this newly aligned organization, Jamie Kase, head of sales and marketing for SSgA has left the firm.
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