MONEY MANAGEMENT

SSGA hires head of Latin America ETF business development

Heinz Volquarts was named State Street Global Advisors’ first head of SPDR ETF business development for Mexico and Latin America, as part of an effort by the money manager to grow its institutional ETF business in those regions, said Rob Trumbull, a managing director and head of asset owner ETF sales, in an interview.

“We believe the Latin American market is in its early stages and Mr. Volquarts’ hiring will be an opportunity to serve customers more effectively,” Mr. Trumbull said.

He said the SPDR ETFs are available on the New York Stock Exchange and about 50 ETFs are cross-listed on the Mexican Stock Exchange.

Mr. Volquarts will be based in Philadelphia. He previously worked at Vanguard Group and was responsible for the distribution of Vanguard ETFs in Mexico. A spokeswoman for Vanguard could not be immediately reached for comment.