Deals & People May 13, 2010

Great-West Appoints Regional Sales Director for Public/Nonprofit Business

Great-West Retirement Services has appointed Gary Biesiadecki as regional director for the organization’s central U.S. Public/Nonprofit (PNP) business, effective May 16.
Reported by

Biesiadecki will manage a team of 15 field representatives located throughout the Central U.S., including Colorado, Kansas, Oklahoma , and Texas. In this position, he is responsible for overseeing the education, enrollment, and communications of all aspects of defined contribution plans for Great-West’s PNP clients.

Biesiadecki has been with the organization since 1997 and has served in a variety of positions, including training manager for PNP business and training director for the company’s financial services division, the company said. Most recently, he served since 2006 as senior manager for Great-West Retirement Services’ PNP field operations.     

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Products May 13, 2010

SSgA Unveils Build America Bond ETF

State Street Global Advisors (SSgA) has announced that the SPDR Nuveen Barclays Capital Build America Bond ETF (symbol: BABS) began trading on the NYSE Arca on Thursday.
Reported by


A news release said the municipal bond SPDR is the first new exchange-traded fund (ETF) developed under a sub-advisory agreement between State Street Global Advisors and Nuveen Investments subsidiary, Nuveen Asset Management. Its annual expense ratio is 0.35%.

Designed to provide investors with exposure to Build America Bonds, which can offer an attractive risk/reward potential when compared with equivalently rated corporate debt, the SPDR Nuveen Barclays Capital Build America Bond ETF seeks to track the performance of the Barclays Capital Build America Bond Index. As of April 30, the index provides exposure to 85 issues.

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The interest from Build America Bonds is subsidized by the U.S. Treasury.

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