Products April 25, 2007

State Street Introduces International SPDRs

New SPDR exchange-traded funds (ETFs) include the first capitalization-weighted vehicle covering international small cap equities.
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The SPDR S&P International Small Cap ETF Index includes companies with market capitalizations below $2 billion domiciled in developed countries outside the U.S., and has an expense ratio of 0.60%. According to State Street, it is the first capitalization-weighted vehicle covering international small cap equities.
The SPDR S&P World ex-US ETF Index includes more than 5,000 companies domiciled in developed countries outside the U.S., including Canada, and has an expense ratio of 0.35%.
The new funds launch today on the American Stock Exchange and bring the total of State Street’s family of U.S.-listed ETFs to 53 funds, the company said.
Deals & People April 25, 2007

Mollahan for Names Employee Benefit Investment Executive at JPMorgan

JPMorgan Worldwide Securities Services has named Edward Mollahan as employee benefit investment executive, a new position designed to help private and public institutions address growing requirements for benefit plan investment administration.
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According to the company, Mollahan will serve as a spokesperson on employee benefit investment administration industry issues, participate in key industry organizations and help lead business development efforts.

He will help create new products and services for the administration of defined benefit, defined contribution and health and welfare plans, the company said.

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“Employers are grappling with how to provide competitive, yet affordable retirement and benefit plans to their employees,” said Mark Kelley, head of JPMorgan’s U.S. Fund Services business. “In this new position, Ed Mollahan will help us expand fund services offerings and assist our clients in meeting the challenging demands of employee benefit administration.”

Mollahan joined JPMorgan in 1982 and has held various positions in pension-related areas, reaching senior vice president in 2001. He holds a Bachelor’s of Science in Business Administration from Wilkes University.

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