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Wednesday, September 29, 2010

SSgA Makes a Key Hire

Reported by Armie Margaret Lee

State Street Global Advisors just hired the man who previously oversaw exchange-traded products globally at NYSE Euronext. SSgA brought on board Scott Ebner as managing director and global head of ETF product development.

Ebner joined SSgA last month and is based in the London office.

"We're actively looking for a replacement," NYSE Euronext spokeswoman Katrina Clay told The MFWire.com.

At SSgA, Ebner reports to Jim Ross, who, The MFWire.com has learned, is sporting the new title of global head of ETFs. Ross also continues in his role as president of SSgA Funds Management, where he oversees both ETFs and mutual funds offered through financial intermediaries.

ETF product development had been part of Ross' broader duties, according to SSgA spokeswoman Marie McGehee. With Ebner now on the team, SSgA has someone "with a dedicated focus on product development globally," McGehee said.

Most recently, Ebner was senior vice president and global head of exchange-traded products at NYSE Euronext. From his post in Paris, Ebner oversaw the listing and trading of ETFs, warrants, certificates, structured notes, investment funds and other exchange traded products across NYSE Euronext's global markets.

Earlier, Ebner worked as senior vice president of the ETF marketplace at the American Stock Exchange, which was acquired by NYSE Euronext.
Company Press Release

State Street Global Advisors Names Global Head of ETF Product Development

BOSTON--State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE: STT - News), today announced the appointment of Scott Ebner, as managing director and global head of ETF Product Development.

In this new role, Ebner will be based in State Street Global Advisors' London office and responsible for developing, enhancing and launching State Street’s exchange traded funds worldwide. He reports to James Ross, senior managing director and global head of Exchange Traded Funds at State Street Global Advisors.

"Scott is a talented and well-respected expert who will help expand our SPDR family to meet increasing demand worldwide," said Ross. "His experience and expertise offer a unique perspective that will enhance our ETF product development process."

Ebner joins State Street Global Advisors from NYSE Euronext, where most recently he was senior vice president and Global Head of Exchange Traded Products, overseeing the listing and trading of ETFs, warrants, certificates, structured notes, investment funds and other exchange traded products across NYSE Euronext’s global markets while based in Paris. Mr. Ebner was previously in charge of European Exchange Traded Products for NYSE Euronext. Prior to joining NYSE Euronext, Scott served as senior vice president of the ETF marketplace at the American Stock Exchange (AMEX).

"I'm excited to join State Street, the firm that created the world's first exchange traded fund in 1993, and many others that have transformed the market," said Ebner. "The ETF industry is currently a $1.2 trillion market globally, and despite its tremendous growth over the past seventeen years, additional product innovation and education are critical to unlocking the market's full potential in the years ahead."

State Street manages more than $200 billion in SPDR ETF assets worldwide (as of June 30, 2010) and is one of the largest ETF providers in the US and globally.

Note to Editors: SPDR® Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street—in partnership with the American Stock Exchange—created the first ETF in 1993 (SPDR S&P 500 – Ticker SPY). Since then, we’ve sustained our place as an industry innovator through the introduction of many ground-breaking products, including first-to-market successes with gold, international real estate, international fixed income and sector ETFs. SPDR ETFs are managed or marketed by SSgA or SSgA Funds Management, Inc, a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

About State Street Global Advisors

State Street Global Advisors (SSgA) is a global leader in asset management that sophisticated investors worldwide rely on for a disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street, one of the world’s leading providers of financial services to institutional investors.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

SPDR22 is a registered trademark of Standard & Poor Financial Services LLC ("S&P") and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors' rights are described in the prospectus for the applicable product.

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