Money Management

SSGA chooses ETF head for EMEA

Matteo Andreetto was appointed senior managing director and head of the SPDR exchange-traded fund business for Europe, Middle East and Africa at State Street Global Advisors, a spokeswoman said.

Mr. Andreetto is responsible for developing, leading and executing all aspects of the SPDR ETF business strategy in EMEA, leading the sales teams and other units.

He is based in London and is replacing Rory Tobin, who was promoted to global head of the business in March. The SSGA spokeswoman said the firm has been looking to fill the EMEA position since then.

"The European market place has been a key source of growth for the global SPDR ETF business, with particular investor interest in fixed income, equity sector and smart beta strategies," Mr. Tobin said in a news release. "We believe the European ETF market is in the early stages of developing its growth potential, with various secular trends providing a supportive backdrop for continued growth. These trends include greater focus on value for money in investing, increased requirements for transparency and liquidity in investment products, increased use of fixed income ETFs in portfolio management and a migration to fee based advisory models in wealth management."

Mr. Andreetto had been CEO and head of index services at STOXX, part of Deutsche Borse Group, a news release by the firm said. He left the firm Sept. 30. Holger Wohlenberg, head of Deutsche Borse's data and index business on a broader segment level, took on responsibility for index services. The CEO role was taken over in the interim by Steffen Hermanns, chief operating officer of STOXX.