Anna Paglia will join State Street Global Advisors early next year as executive vice president and chief business officer, SSGA announced Nov. 27.
The position is a new one at SSGA, and Paglia will report directly to SSGA CEO Yie-Hsin Hung.
Paglia will be tasked with developing a "longer-term growth strategy for (SSGA's) major businesses across global ETFs, index, cash and defined contribution and increasing the firm's overall competitive positioning and delivery of investment exposures and tailored solutions for its clients," according to an SSGA news release.
The firm's actively managed strategies will remain under the remit of CIO Lori Heinel, an SSGA spokesman said in an email.
Paglia will come to SSGA from Invesco, where she has served as global head of ETFs, indexed strategies, SMAs and models.
The news release noted that she played a key role in launching more than 100 new ETFs at Invesco over the past four years across the U.S., Canada and Europe, expanding the firm's platform to more than 350 ETFs globally with combined assets of more than $460 billion.
An Invesco spokeswoman said Brian Hartigan, the firm's global head of investments, ETFs and indexed strategies, will serve as interim head of Invesco's ETFs, indexed strategies, SMAs and models group while a search for a permanent replacement is conducted. Hartigan will report to Doug Sharp, senior managing director and head of the Americas and EMEA.
"Under Paglia, Invesco was aggressive in launching ETFs and marketing its capabilities," noted Todd Rosenbluth, head of research at VettaFi, a data and analytics provider.
"Her move to SSGA could effectively stabilize the firm's ETF business, and leave it better positioned to compete with industry leaders BlackRock and Vanguard," Rosenbluth said.
