Deals & People March 12, 2007
State Street Reshuffles Financial Intermediary Division
The investment management arm of State Street Corporation is making some changes to the structure of its financial intermediary group, which was created in 2001 to service investors such as financial advisers, broker-dealers, registered investment advisers (RIAs), and family offices.
Reported by Adrien Martin
According to a State Street press release, the restructuring was an effort to enhance the firm’s capabilities and better position it for future growth and efficiency.
The newly renamed Intermediary Business Group, which represents more than $134 billion in assets under management, comprises multiple operating units encompassing the full array of investment professionals, as well as a fully integrated staff of strategy and research professionals.
Some State Street executives have been promoted as a result of the restructuring:
The newly renamed Intermediary Business Group, which represents more than $134 billion in assets under management, comprises multiple operating units encompassing the full array of investment professionals, as well as a fully integrated staff of strategy and research professionals.
Some State Street executives have been promoted as a result of the restructuring:
- Dodd Kittsley is now director of the Strategy and Research group, a team of eight research strategists dedicated to providing customized portfolio solutions to financial advisers, asset managers, RIAs, and family offices. He will also work on trends and development in the exchange-traded fund (ETF) and investment management industries.
- Rich Koerner has taken the role of national sales director focusing on broker/dealer firms. He will oversee 10 regional consultants supporting national, regional, and independent broker-dealer firms.
- Kevin Quigg is now director of sales, focusing on wealth managers including banks, hedge fund and mutual fund managers, proprietary trading desks, RIAs, and family offices.
- Michael Stevens has been appointed to the new position of manager, focusing on the RIA and family office channels, and will report to Quigg.
- Jill Iacono has been appointed director of national accounts and will oversee national account management across the Intermediary Business Group.