James E. Ross, executive vice president and chairman of State Street Global Advisors' global SPDR ETF business, will retire at the end of March 2020.
Mr. Ross joined SSGA in 1992 and was "instrumental in creating, developing and bringing to market many of the world's first ETFs," the company said in a news release.
Mr. Ross was a member of the team responsible for developing the first U.S. ETF — SPDR S&P 500 ETF Trust — which was launched in 1993.
Mr. Ross will not be directly replaced at SSGA and will "transition his duties over the next few months to others on the (ETF) team," spokesman Mark Hazelton said.
"Without question, Jim has been one of the most influential figures in the investment management industry. I have known Jim for many years and I am constantly struck by his dedication to clients, his focus on building and developing teams and his passion for creating solutions for investors of all types," said Ronald P. O'Hanley, CEO and president of State Street Corp., in a company news release.
Mr. Ross said he is "looking forward to my next chapter, which will undoubtedly include remaining engaged in the ETF industry, but also devoting more time to my non-profit work," the release said.
As of Sept. 30, SSGA managed $2.95 trillion, of which $698 billion was managed in ETFs globally.
