SSgA Creates New Product Development Position

Sep 22 2006 | 12:00am ET

State Street Global Advisors has appointed Peter Leahy to the newly created position of chief product officer. In this role, Leahy will oversee product development from conception to market launch. He will also be responsible for regularly assessing and modifying SSgA’s existing products.

“In an environment where the search for alpha is accelerating, this position enables us to stay at the cutting edge of excellence in new product development,” said William Hunt, president and CEO of SSgA.

This year, SSgA introduced nine exchange-traded funds, various absolute return strategies including a customizable multi-alpha vehicle with nine underlying uncorrelated strategies, a commingled product for liability-focused investors and a variety of extension strategies in order to exploit value by loosening constraints on active managers.

Leahy has been with SSgA for 15 years, most recently as chief operating officer. He joined the company’s Global Structured Products group in 1991, managing it from 1996 to 2004.

Otello Sturino will assume the role of chief operating officer, while retaining responsibility for the group’s business in Canada, which he has managed since 2004.

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