MONEY MANAGEMENT

SSGA recruits head of U.K. institutional business

Andrew Benton was named head of U.K. institutional business at State Street Global Advisors, said a spokesman.

Mr. Benton started last week and replaced Mark McNulty, who joined JLT Employee Benefits as head of investment solutions in February.

Mr. Benton reports to Mike Karpik, executive vice president and head of Europe, Middle East and Africa, and will be responsible for distribution across all of the firm's U.K. institutional business segments, including defined benefit, defined contribution, fiduciary and financial institutions.

"His appointment recognizes the commitment of SSGA to our U.K. institutional clients and our solutions that span across pensions, fiduciaries and financial institutions," said Mr. Karpik in a news release.

Mr. Benton was head of sales, business development and international client services at Barings. It could not be learned whether he was replaced. A Barings spokeswoman could not be reached for comment by press time.

Jack Lejk contributed to this story.