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DEFINED CONTRIBUTION

SSGA chooses new global head of DC

SSgA

David Ireland was named global head of defined contribution at State Street Global Advisors, the company announced Monday.

Mr. Ireland replaces Fredrik Axsater, who left in March to become executive vice president and head of business segments at Wells Fargo Asset Management.

Mr. Ireland started Monday and is based in Boston, Andrew Hopkins, a spokesman, said in an email.

He had previously worked for SSGA for more than 13 years, rising to head of U.S. consultant relations before leaving to join Wellington Management in 2016.

Mr. Ireland had been director of defined contribution distribution at Wellington, according to an SSGA news release Monday. Susan McMurry, A Wellington spokeswoman, declined to comment.

As the global head of DC, Mr. Ireland is in charge of SSGA's $421 billion global DC business. He administers “all business development activities, product development, thought-leadership, marketing and retirement-related public policy advocacy,” the release said.

SSgA has a global DC team of more than 40 employees.