State Street Global Advisors (SSgA), the asset management business of State Street Corp., has appointed Greg Ehret to the newly created role of global chief operating officer.
Currently based in London and a 20-year SSgA veteran, Ehret will assume the position immediately. Senior managing director Mike Karpik will assume Ehret's current responsibilities as head of EMEA.
"Key to our success at SSgA is our global breadth, deep reservoir of talent, and organizational efficiency and scalability enabling us to deliver high quality investment solutions to our clients," says Scott Powers, president and chief executive officer of SSgA. "As a proven leader, Greg has gained considerable insight into the needs of our clients. In this new role he can help sharpen and advance our competitive advantages as well as accelerate our ability to meet our strategic objectives."
"I am very excited to take on this new challenge," says Ehret. "I intend to focus our organization on leveraging the power of our strong and stable core to invest in the leading edge solutions that our clients need to meet the challenges of this highly complex and competitive environment."
Ehret joined State Street in January 1993 and has held a range of senior level positions in operations, sales, marketing and product development including as co-head of the firm's industry leading ETF business. In 2008, he was appointed head of SSgA's EMEA business based in London. Prior to this role, Ehret was head of sales and distribution for SSgA in EMEA, with responsibility for operations in Brussels, Milan, and Dubai.
Mike Karpik joined SSgA in 1998 and in 2009 he was named head of Investments for EMEA based in London. Earlier this year he was appointed head of SSgA's UKMEA and Ireland business in addition to his head of investment role.
As a result of these new appointments, State Street's Jamie Kase, head of sales and marketing for SSgA, has left the firm, according to a State Street press statement.