Louis de Montpellier will join State Street Global Advisors at the end of September as a senior managing director and global head of SSgA’s official institutions group.
Mr. de Montpellier will be based in London and replaces John Nugee, also a senior managing director, who will retire at the end of October.
Mr. Nugee will “remain in an advisory capacity as a strategic consultant for SSgA’s official institutions group business and will continue to provide research and participate in select client events,” according to an SSgA news release.
Mr. de Montpellier was deputy head of the banking department at the Bank for International Settlements in Switzerland.
Mr. de Montpellier’s experience will contribute to SSga’s efforts to provide investment solutions for official institutions — a group that includes central banks, sovereign wealth funds, national government agencies and international financial institutions, said Michael Karpik, head of SSgA for Europe Middle East and Africa, in the news release.
The official institutions group, set up by Mr. Nugee 13 years ago, currently accounted for more than $400 billion of SSgA’s $2.146 trillion in assets under management as of June 30.